The first store under this brand will be opened by Peeraj within shopping center Baneasa Shopping City in northern Bucharest. The shopping center hosts several premium brands among which Michael Kors, Lancel, Chanel Beauty and Boggi, the last of which is also included in Peeraj portfolio, along with CCC, Armani Jeans and Max & Co.
Baneasa Shopping City attracted several premium brands because the northern area of Bucharest is inhabited by people with above-average income, who actually are target customers of these brands.
A store under the A/X Armani Exchange brand will also be opened within shopping center AFI Cotroceni. Subsequently, Peeraj will also open stores under this brand in the cities of Cluj, Iasi and Timisoara, according to Sachin Arora, the man running Peeraj operations in Romania, who also is one of the group’s shareholders.
Romania is the only market where the group targets the retail sector, considering that in other countries, such as Afghanistan, the United Arab Emirates, Iraq, India and Kenya, the group focuses on the fields of oil and natural gas, logistics, real estate and industry.
The group ended 2016 with a turnover of nearly RON230 million and 650 employees, up nearly 50% on the year.
Peeraj Group, a family business, started to operate in Romania in 1999, but in a field other than retail. Seven years later, it realized the potential of the local fashion retail and started its development. Romania’s apparel and footwear retail market exceeds RON15 billion annually.