Cocor Luxury Store brings luxury brands, invests EUR 4 million in displaying them

Newsroom 20/10/2008 | 16:22

“It will be the largest media display in continental Europe, with 13 LCD screens and a broadcast area of 565m,” he said. Manufacturer and technical contractor Daktronics will be in charge of it.
The store will have 250 parking spaces with access to all seven levels, which total 25,000 sqm of built area. GLA has been expanded by 30 percent, or 9,500 sqm. The store plans to host luxury brands, and has signed rental agreements with 26 international brands.
“Of those, 60 percent are first entries in Romania,” said Ilan Laufer, GM of Retail Group, the rental broker for the site. Barbulescu says the firm has signed agreements for 40 percent of the GLA, and plans to contract out 80 percent of the spaces by year-end. Rents should range from EUR 50-150 per sqm, with the ground floor spots the dearest. Givenchy, Ferre, Armani, Burberry, Gucci, Vertu, Calvin Klein, Fendi, Dior, Chanel and Longchamp have already signed up. The firm is also considering a Romanian luxury brand contract, including an exclusive Romanian gallery, though it gave no further details.
Rented space value, brands entering Romanian markets as producers, monobrand shops network owned and the international rating of the brand are factors in brand selection. The store's target customer will earn more than EUR 2,500 monthly.
COCR had a EUR 2.19 million turnover and net profit of EUR 392,280 in H1 2008, four and 16.2 times lower, respectively, than the same period of 2007.
Magda Purice

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