Thus, while in early 2010 the company owned 47 stores in Italy, France and Hungary, its website currently lists only the Romanian stores.
Jolidon’s representatives abroad say the Cluj-based company does not have own stores, and its products are sold in other stores, without providing additional details.
Jolidon Romania representatives did not confirm the information by edition close, though.
Following the closing of its abroad stores, Jolidon, a company created by Cluj-based businessman Gabriel Carlig, loses a third of the total number of stores.
Jolidon’s Romanian own store network currently includes 87 stores, a constant number in the past year, according to Jolidon representatives.
In 2009, however, the company closed some unprofitable stores or stores located in shopping centers that were shut down.
Romanian apparel producers and retailers were more seriously harmed by declining consumer spending than their foreign rivals that benefited from the support of parent companies, whose financial strength was sufficient to keep the Romanian business going.
On the other hand, with debts and loans taken out from banks, Romanian entrepreneurs had to support their businesses on their own and seek solutions to survive. According to the Finance Ministry website, Jolidon in late 2009 had total debts of RON207 million (EUR56 million).
In early 2010, the company’s officials announced lower turnover in 2009 than in 2008 and stated they closed a series of unprofitable local stores. Plans for 2010 included an increase in turnover year-on-year, amid rising export sales.
However, estimates did not come true and the sales decline continues. Jolidon Romania posted turnover worth RON79 million (EUR18.8 million) last year, down almost 22% year-on-year.