Cremcaffe opens first coffeehouse

Some 300,000 euros were invested in the first Bucharest-based coffeehouse of Italian company Cremcaffe. The investment was made by a group of four Israeli businesspersons, who concluded a franchise contract with the Italian company. “We intend to open two more cafes in Bucharest by yearend, which will also need investments worth 300,000 euros each. We are also planning to expand in the main Romanian cities as of 2005,” Miki Haiblum, general manager of Cremcaffe Romania said. Players on the coffee market find Bucharest to be a very attractive market to open coffeehouses, as competition is not fierce yet. ZF