Altex, whose annual revenue stands at more than EUR350 million, operates both Altex and Media Galaxy stores. The latter are larger and Loredana Butnaru, 38, the executive in charge of Miele’s local retail operations, says Altex itself chose that particular Media Galaxy as the most suitable for selling premium products.
“We now have partnerships with all three specialist retailers, Altex, Flanco and Domo. Our products are available in only one store in each of the former two, and six of the latter’s, because we have been working with Domo for five years already,” Loredana Butnaru says.
“We signed agreements with Flanco and Altex in 2015. If sales go well, we will expand the partnership.”
The Miele representative says it takes at least three to four months to see how such a store does in terms of sales performance, but the first signals from Flanco are positive. It signed the partnership with Flanco in February 2015.
Miele products are available in 55 stores in Romania, with two more stores to be added as a result of the partnership with Altex and with a local entrepreneur, who will open a dedicated Miele store in Sibiu.
Miele Appliances, which Loredana Butnaru has been running for about two years as sales manager, ended last year with EUR2.15 million revenue, about 20% higher than in 2013, but lower than initially estimated.
This year, however, started very well, with more than 60% growth after the first four months. The company budgeted growth of 30% to 35% for the entire year, which should come from both the new partnerships and the increase in consumer spending.
“Romanians are starting to buy homes, and home appliances, as well. Romania has a huge potential, so in five years we could double revenue and get to EUR10 million – EUR15 million in ten years,” Loredana Butnaru said.
(English version by Loredana Fratila-Cristescu)