The luxury furniture market, the worst hit by the difficult economy of the last few years welcomed France’s Roche Bobois, one of the world’s largest companies on its market segment. The Roche Bobois store in the center of Bucharest is a franchise introduced in Romania by Romanian entrepreneur Serban Cismarescu, who together with his wife Raluca owns the luxury furniture retailer Innova Interiorism, a EUR1.5 million business last year.
The 600 square meter store is located near the five-star Radisson hotel and required a EUR0.65 million investment, which includes the furniture inventory. Innova shareholders self-funded the investment.
A luxury furniture brand that entered Romania during the crisis was US’ Ethan Allen, introduced via a franchise held by Diana Sucu.
Another retailer, although positioned on the economy segment, is due to open a store in West Park retail park in Bucharest on May 15. Casa Convenienza store held by entrepreneurs Antonio Cantera (owner of furniture business Casa Magica Design) and Kemal Bakirici (who owns General Business System, the importer of Samsonite luggage).
“We have the Casa Magica Design brand (…), but there is also demand for economy products with an Italian design,” says Antonio Cantera, who owns 50% of the store due to open soon.
Antonio Cantera expects the over 1,000 square meter store to generate EUR5 million sales this year. The entrepreneurs plan to open three more stores in Bucharest this year, followed by another eight in 2016 so the network would grow to 12 stores by the end of next year.
The opening of the Coresi mall in Brasov saw the inauguration of the first store of Turkish retailer English Home, a British style concept, selling everything from bedroom textiles to apparel. English Home has more than 220 stores in Turkey and more than 40 in countries like Ukraine, Bulgaria, Poland, Greece and Georgia. The English Home in the Coresi mall is a small store, taking up only 145 square meters.
English Home has another store in AFI Palace Cotroceni, which it opened on May 1 and is getting ready to open a third in Mega Mall.
(English version by Loredana Fratila-Cristescu)