Moncler announced last year it had completed the acquisition of a clothing plant from a supplier that worked almost exclusively for the Italian group, according to its corporate website. Moncler also invested about EUR5 million in a new plant where it was to create 600 jobs, Reuters Italy reported. Moreover, it also rented 33,600 square meters in Bacau for its manufacturing operations, according to the Official Gazette.
Wages in Romania’s textile industry are among the lowest in the country’s economy, hence the decision of the Italian group to make the investment. Average net wage in the textile industry stood at less than RON1,800 in November 2018, according to the National Statistics Institute data.
Moncler, which makes jackets that sell for as much as over EUR1,000, posted EUR880 million revenue in 2015. (EUR1=RON4.4983)
(English version by Loredana Fratila-Cristescu)