The Italian brand was brought in Romania by another entrepreneur – Alessandro Amato, in 2010, who then sold the franchise to the Calagiu family, which also has construction and maintenance businesses. As of press time, the representatives of the Gucci franchise in Romania had not responded to ZF’s request about the reason for the store’s closure.
A market source says that it has nothing to do with the local business results, but with a decision by the parent company to give up the franchised stores.
The Gucci boutique in Bucharest, which operated on the ground floor of the Athénée Palace Hilton ended 2020 (the last year of publicly available data) with RON20.7 million revenue, 10.7% higher than in 2019 and almost double the 2018 level.
(English version by Loredana Fratila-Cristescu)