Cielo Venezia 1270 plans expansion in 2011

Italian jewelry manufacturer Cielo Venezia 1273 has announced the launch of five new stores in Romania in 2011. The future locations will be in Iasi, Cluj, Brasov, Craiova and Pitesti, according to Alexandru Caravaniez, managing partner of the Romanian subsidiary.

The company entered the local market in 2008, through a partnership with the jewelry chain Royal Caro, which resulted in the company Cielo Venezia 1270 RO. In 2008, it opened four stores in Romania, which it upped to 10 by 2010, located in Baneasa Shopping City, Bucuresti Mall (Vitan), Plaza Romania, Victoria Galleries, Unirea Shopping Center, Liberty Mall, Afi Palace Cotroceni, Iulius Mall Timisoara, Tomis Mall Constanta and City Park Mall Constanta.The estimated turnover for 2010 is about RON 10 million, which the firm intends to increase to EUR 4 million, almost double this year’s estimation. The company also aims to increase its number of employees, from 15 in 2008 to 100 in 2011.

The cheapest jewelry it sells in Romania retails at RON 100-200, while the most expensive can reach and even surpass EUR 25,000 in the case of in demand pieces. In Romania, the company has monthly sales of around EUR 200,000 per store, a rather low sum due to the economic context. “It takes six months for a store to reach break-even point,” said Caravaniez.

The founder of Cielo Venezia 1270, which is based in Venice, is Sergio Cielo (in picture). The company is present in 30 countries globally, has over 3,000 stores, sells around 300,000 pieces of jewelry annually and has an estimated turnover of EUR 80 million.

Corina Dumitrescu

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