The store will occupy both the space vacated by Gucci and the space adjacent to it, where the hotel’s café now operates, according to ZF sources.
This is one of the most important moves in the local luxury market, a market rather marked by closures, as was the case with Gucci about a year ago.
The Italian fashion brand operated as a franchise in Romania, which is the model used by most businesses in the luxury sector. The exception is Louis Vuitton, the flagship brand of France’s LVMH group, which came directly to Romania in 2008. At the time, the brand opened a 130 square meter store in the gallery of the five-star JW Marriott Hotel, following an investment of more than EUR1 million. The store carries bags, shoes and accessories, as has done since the beginning.
Now, after almost 15 years, the store is still in the same space, with other names such as Valentino, Dsquared2 and Dolce & Gabbana appearing in the hotel gallery. There is no information yet whether Louis Vuitton will open a new store in Bucharest or move the existing one.
The Louis Vuitton store in Romania posted RON71 million sales last year, up 43% on 2020 and double the 2018 figure.
(English version by Loredana Fratila-Cristescu)