The 2011 edition of BUSINESS OF LUXURY FORUM, an event organized annually by CPP, took place today in Bucharest, Romania at the newly opened luxury Epoque Hotel. With the occasion, CPP presented briefly to media the annual luxury market report on Romania, highlighting major trends, opportunities and challenges in the market.
Leading luxury Romanian retailer ALSA expressed a positive view of 2011, with confidence in a market recovery. Alsa Group owns and operates the franchising stores of Ermenegildo Zegna, Emporio Armani, Max Mara, Coccinelle and Pal Zileri.
Dana Petcu, Country Manager of Christian Dior Parfums confirmed efforts for listing authorized retail locations and stressed European legislation already applied in France and Germany will also be enforced in Romania, restricting mass market hypermarket retailers to set up perfumery corners. She also confirmed that none of the existing online retailers is authorized by Dior and most are selling counterfeit merchandise as well as merchandise bought through alternative channels.
Mihaela Perianu, Country Manager of Aims and Dale Carnegie International spoke about the highly skilled customer oriented Romanian human resources available in the country, in various sectors such as automotive and fashion. She also stressed the need for luxury retailers to pay more attention to training and motivating personnel, more so than mass market retailers which invest heavily in training their human resources.
Romania’s luxury market is estimated at 460 million euros for 2011, a slight increase from 2010, with jewellery / watches, travel and auto remaining the most affected luxury industry sectors. Fashion and accessories have seen a slight increase of up to 5%, especially menswear. After the opening of Emporio Armani and Gucci mono-brand store December 2010, Burberry could be the next major market entrant by the end of 2011. Louis Vuitton remains the best performing luxury fashion and accessories brand in Romania, with record sales levels since opening late 2007.
Porsche, Ermenegildo Zegna and LuxurySociety.Com were the main partners of the event. On September 26th, CPP will organize in Belgrade, Serbia the international edition of BUSINESS OF LUXURY FORUM.
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