The opening, which will happen within the month, comes about two months after the inauguration of the first store in The Grand shopping gallery of the five-star JW Marriott Hotel in Bucharest.
The US-held company is now arranging the space for its second store and has already put up posters with the name of the brand on the windows. Michael Kors officials confirmed the opening but did not say exactly when it is.
Another premium fashion store set to open in the Baneasa Shopping City is Armani Jeans. The mall is located in an upscale area in the north of the city, where customers of premium and luxury brands live.
Michael Kors opened its first store in Romania almost two months ago and was the second premium or luxury fashion brand to arrive directly in the country, after Louis Vuitton in 2008. The other big names, such as Gucci, Dolce&Gabbana and Burberry are available as franchises operated by Romanian or foreign entrepreneurs.
Its store in The Grand has a 70 square meter floor area and sells accessories like bags and other leather items part of the MICHAEL collection of Michael Kors. The store also sells watches, jewelry, glasses and a selection of perfumes, but no apparel.
The direct entry of a foreign premium or luxury brand shows the local market has development potential, since such a brand usually invests several hundred thousand or even one million euros in opening a monobrand store and takes a number of risks on a new market instead of transferring them to a franchisee.
Romanian consumers spent 2.2 billion lei (almost EUR500 million) on premium and luxury goods last year, directing most of their spending to apparel, shoes and fine beverages, according to market research company Euromonitor.
(English version by Loredana Fratila-Cristescu)