Luxury Products

Topics: LVMH, Luxury good, Luxury vehicle Pages: 4 (1169 words) Published: May 23, 2013
Textile, fashion and luxuary products

In 2010, Romanians spent 450 million euros on luxury products and services. Industry players have no reason to complain. This year they managed to release 50 million from the pockets of more wealthy Romans. No wonder that 2012 will start with the entry of four new brands on the market. Luxury products and services generated in 2010 a market of 500 million euros, not to mention hotel and perfumery segment. The highest percentage in the industry, 50-60%, belongs to luxury cars. Follow fashion and accessories (excluding jewelry) that holds about 30% of the luxury market. This means that major brands such as Gucci or Hugo Boss, beat a market of 150 million euros. The rest is generated by jewelry, watches, spas and travel (airlines, five-star hotels and exotic). "The industry has a very low value compared to other European countries. This does not mean that Romanians do not give money luxury, but as they shop abroad," he told Business 24 Oliver Petcu, managing director of CPP Management Consultants, only company consulting company specializing in the luxury industry in Romania.


Luxury market in Romania was in great demand in 2011. Gucci, Alfred Dunhill, Valentino and Ermanno Scervino opened their first stores in the local market. How did Romania one of the most popular destinations for luxury brands in Eastern Europe? Max Mara, Burberry and Gerard Darel are just some of the international luxury brands that have invested in Romania, considered the second largest market in Eastern Europe after Poland, according to CPC-luxury. Max Mara has announced the relocation of the store, in a space three times while Gerarrd Darel opened a second store in a mall. Burberry has signed a franchise agreement, and will open its first store in March 2012. German brand Escada, which has been present in Romania with three stores by 2007, said it will re-launch in the local market with a new store. Despite investment in the luxury...
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