GIGI takes on luxury cosmetics market

GIGI Cosmetic of Israel has entered the Romanian market for luxury cosmetics, with an investment of close to 500,000 euros, which went to buying its main office building and launching its brand on the market. “This is a very fast developing market. People now have access to more information, and are demanding more,” says Sandy Zilberman, general and professional manager for GIGI Romania. She said the upward trend on the market was due to the proximity of the West and rising investment from foreign companies, which also create a basis for change in this field. “Our product supply is very diverse, from the most expensive to the cheapest, but Romanians want quality,” she explained. The company plans to keep investing in the Romanian market and to expand to other parts of the country by the end of 2006, a move that will see it work with local distributors. ZF