Net profit also climbed, to RON5 million, meaning an almost 24% margin. By comparison, in the first pandemic year the company’s net profit stood at RON4.4 million, 12% smaller.
Even in this context, the Gucci boutique of Bucharest, operated in a franchise system by local entrepreneur family Calagiu, has recently closed down, thus marking the luxury brand’s exit from the Romanian market after more than a decade.
Gucci representatives in Romania have not specified the reason for the shutdown, but market sources say the decision is not linked to the results of the local operations, but to the company’s move to give up units operated in a franchise system.
The closedown is one of the most important exits by a luxury brand from Romania.
(English version by Catalina Apostoiu)