Stefanel closes Calea Victoriei store after 20-year lease contract expires

Italian fashion retailer Stefanel is closing its 220-sqm Calea Victoriei store as the 20-year lease contract has expired, Mediafax reports. Stefanel was the first fashion brand to open in Romania in 1991. The Calea Victoriei location was the first one opened by the company in Central and Eastern Europe.

Stefanel currently has ten stores on the local market, bringing in estimated total annual sales of EUR 5.5 million.