The decline in turnover in 2011 is the main reason for the company’s decision to withdraw from Romania. According to Finance Ministry data, in 2010 Kiabi posted turnover of 47.3 million lei (EUR10.6 million) and losses of RON4.2 million.
Kiabi has four stores in Bucharest, one in Constanta and one in Cluj-Napoca. The retailer invested around EUR3 million in its six stores in Romania and planned to open 20 units by the end of 2014.
The retailer is owned by the Mulliez family, which also controls the Auchan hypermarket chain, sportswear retailer Decathlon and DIY store chain Leroy Merlin. (EUR1=RON4.4635)