LPP Fashion opens three new stores, sees turnover below expectations

The fashion retailer expects EUR 5.2 million in turnover this year, up EUR 1.2 million on last year. “While at the beginning of the year we were somewhat more optimistic and believed we could easily manage to reach a EUR 7 million turnover, the market evolution in Romania during the crisis has radically changed our expectations and our estimations,” said Zeciu. The firm says it has stalled its expansion plans but still expects to open a few locations next year. LPP Fashion is planning to bring at least one new brand to Romania, he added. LPP owns the Reserved, Cropp, Esotiq, Promostars, House and Mohito brands. In Romania, Reserved and Cropp Town are present in three Bucharest shopping centers, in Bacau and Braila.
Corina Saceanu