Local Esprit stores close down

AAV Group which is owned by local businessman Vicentiu Zorzolan has closed down the three existing Esprit stores in Romania, inform Mediafax. The three stores are located in the Baneasa Shopping City, Bucharest Mall and Plaza Romania shopping malls in Bucharest.

The company owns the local franchise for the Esprit, Springfield and Women’Secret brands.

AAV Group saw its turnover plummet from approximately EUR 7.3 million in 2009 to about EUR 1.8 million last year and its number of employees was reduced by half.

Simona Bazavan

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