In 2011, the store of Baneasa Shopping City, the first to be opened in Romania, generated revenue of RON72 million (EUR17 million) alone.
In each of the past two years, the German company has opened one new unit. A unit was opened in Maritimo Shopping Center Constanta in the spring of 2012 and one in Promenada Bucuresti in the autumn of 2013.
The store of Promenada was operational only two full months in 2013, so that the average sales per store in the case of the other two units supposedly revolved around EUR14 million. The figure would place Peek&Cloppenburg on the top position in the ranking of fashion stores boasting the highest sales in Romania, according to ZF data.
The ranking includes Zara and H&M units of Baneasa Shopping City, according to market sources. The Peek&Cloppenburg store of Baneasa is however twice as large as the biggest units of Zara or H&M.
Unlike the latter two, which are mass-market brands, Peek&Cloppenburg addresses above-average income persons, selling products under brands such as Boss, Armani, Belstaff, Burberry, Calvin Klein or Marc Jacobs.
Peek&Cloppenburg stores ended 2013 with profit worth RON17.6 million (EUR4 million) and a total of 107 employees. The German retailer has a profit margin of around 14%, among the highest in the industry.
The company entered Romania in April 2008 with a department store-type unit with a 4,200-sqm area.
Peek&Cloppenburg officials, some of the most discreet in the industry, have not provided any information about the company’s business in the three years since it entered the Romanian market.
Peek&Cloppenburg is a family business set up 110 years ago and owns a 108-store network in Germany, Belgium, the Netherlands, Switzerland, Austria and Eastern Europe.
(English version by Catalina Apostoiu)