Around half the market is accounted for by sales of luxury cars, while the rest is shared by clothing, watches, jewelry, wines and other luxury products.
On Friday September 28 Ziarul Financiar will publish the anniversary edition of its Dupa Afaceri – PREMIUM supplement, which, in its three-year existence has revealed the trends of the luxury market.
In this anniversary edition, those who contributed to the development of the Romanian luxury market reveal what their own “luxuries” are, whether it is a watch, a yacht or space travel.
The Romanian luxury market has grown steadily year after year, irrespective of the overall evolution of the economy and of consumer habits, addressing a narrow segment of clients who have managed to stand by their consumption habits.
Although the Romanian luxury market has a history of almost two decades behind, it is mainly in the past few years that Romania has managed to attract big names such as Gucci, Valentino and Burberry.
Gucci and Burberry opened stores on the ground floors of five-star hotels on Bucharest’s famous shopping street Calea Victoriei. Escada and Valentino opened stores in The Grand shopping gallery of five-star Marriott Hotel. The same gallery also accommodates Louis Vuitton, one of the world’s best-known brands worldwide and one of the first to enter the Romanian market.
Unlike the other brands, French Louis Vuitton entered the Romanian market directly, while the rest of the brands have a franchisee behind. More often than not the franchisees are Romanian, such as is the case of Hugo Boss (Andrei Alecu, Adrian Matei), Moschino, Distinto, Canali (the Seitan family), Escada (Romanita Iovan) and Valentino (Robert Coman). Coman is also the latest entrepreneur to bet on the Romanian luxury market, being set to open the first Roberto Cavalli store in Romania by the end of this year.
(English version by Daniela Stoican)