The Lanidor store opened this Thursday in the ParkLake Plaza mall in eastern Bucharest estimates that it will post sales worth EUR 300,000 in the first of year of activity. The store was opened following a franchise agreement between the Portuguese fashion retailer and local company QAZ Fashion Retail. Some EUR 200,000 were invested in the opening the unit, said Adrian Dumitrescu, managing partner and co-founder of QAZ Fashion Retail.
He says the company has plans to open about two new stores per year starting 2017. The unit in ParkLake sells exclusively women’s clothing, but should the business post positive results, other Lanidor formats – infant and kids’ fashion – will be introduced locally, added Dumitrescu.
Dumitrescu, who has previously worked in the cement industry, says he has decided to invest in the fashion retail because of the good results and further growth potential that this sector has. The medium-high segment in particular offers good opportunities, he added.
Portuguese Lanidor was set up in 1966 and it now has a network of some 107 stores. Outside Portugal there are Lanidor franchises in 10 other countries besides Romania: Spain, Saudi Arabia, Kuwait, Cyprus, Jordan, Qatar, and Lebanon.
Read more in the next print edition of Business Review
Simona Bazavan