The Gucci store in Bucharest closes after 11 years

by   CIJ News iDesk V
2022-01-13   09:20

The Calagiu family closed the Gucci store on the ground floor of the Athenee Palace Hilton hotel in Bucharest, marking the brand's exit after 11 years. The Italian brand was brought locally in 2010 by another entrepreneur, Alessandro Amato, and later he sold the franchise to the Calagiu family. Market sources say the reason is not the results of the local business, but a decision of the parent company to abandon the franchised units. Regarding the store in Bucharest, it ended the year 2020 with a turnover of RON 20.7 million, 10.7 percent higher than in 2019 and almost double compared to 2018.