The sole Marks & Spencer store opened in the Romanian capital city, located in Bucharest Mall, posted H1 sales worth 1.1 million dollars, up 30%, while the company is facing big troubles across Europe.
Globally, this was the worst year in the history of Marks & Spencer, as the British company was forced to close most of its Europe-based stores, following large losses.
For the entire 2001, the objective is two million dollars, as compared to the $1.7m sales posted between March-December 2000. Last year, Marks & Spencer boasted 60,000 customers, while the target for this year amounts to 80,000.
Greek group Marinopoulos, which owns the Romanian Marks & Spencer franchise and the Beauty Shop store chain, in H1 this year posted turnover worth almost 2.6 million dollars, while the 2001 objective points to 4.5 million dollars.
“We find the Romanian market very attractive, especially since Romanians have taken to shopping. When we opened our first store, we introduced a whole new concept, based on a very high, luxury standard, which soon grew on the Romanian public,” said Giorgios Bethavas, the group’s country manager. “We target people with above-the-average income and we offer ‘quality of value’,” Bethavas stated.
Beauty Center in H1 posted turnover worth 1.5 million dollars, up 60%, while last year’s turnover stood at 1.7 million dollars. For this year, the shop estimates turnover standing at 2.5 million dollars.
“We will open another Beauty Shop this year, in Constanta, while we plan to open another Marks & Spencer store and three Beauty Shops next year,” Bethavas maintained. However, the next Marks & Spencer store may be opened no later than this year, according to Bethavas.
Beauty Shop last year registered 100,000 clients, targeting 130,000 this year. By 2004, 15 Beauty Shops and four or five Marks & Spencer stores will be opened across the country.
Greek group Marinopoulos operates in the pharmaceutical field, also owning the Beauty Shop chain stores (cosmetics), Marks & Spencer (clothing – the group holds the franchise for the Balkans), and supermarkets (under the Marinopoulos and hyper-Marinopoulos brands).