"Opening new stores in the House of Art network, as well as diversifying the range of products, determined this increase," the company's Marketing Manager and one of its owners, Olivera Mihet, told Business Standard.
The company, owned by the Mihet family, is forecasting business worth €22 million in 2007, 13 percent more year-on-year. "Continuous development of our network of stores has determined financial growth in 2007," added Mihet. Last year, company representatives announced their intention to double the network size by 2008.
The company currently owns 50 stores, as well as three production facilities in Alba County. A fourth factory is being readied in Blaj. Staff Collection plans investments worth some €5 million in 2007, and new stores will open in Targu Mures, Alba Iulia, Bacau, Constanta, Iasi and Oradea, according to the company's representative.
All fabrics and accessories are imported from France, Italy, Spain and Greece. Staff Collection employs some 2,500 people, and the number is to rise by the end of 2007 to some 3,200. According to previous estimates, the domestic textiles market, valuated at some €9.5 billion last year, will lose up to €2 million of its value by 2010. "Since joining the EU, the domestic textile market faces real and tough competition, where real values are chosen," believes Olivera Mihet. However, the Staff Collection representative is optimistic about the development possibilities of the Romanian textile industry.
