Three Romanian entrepreneurs hold 10% of fashion retail

Romanian clothing retail revolves around three local entrepreneurs: the Mihet family, Vicentiu Zorzolan and Octavian Radu. The three Romanian entrepreneurs have managed over the last few years to bring 25 brands onto the local market, only one of which is Romanian, and have opened up to 168 stores throughout Romania, while the 40 operating malls include over 1,500 clothing stores, according to ZF estimates. Therefore, the three owners are likely to hold over 10% of modern fashion retail, with the cumulated turnover of the three groups being in excess of 70 million euros, according to the latest available data. The Mihet family is running an over 35 million-euro business, while the fashion division fetches Octavian Radu 14 million euros, and AAV Group estimated turnover worth 20 million euros for 2008.