“Timisoara and Cluj are cities in which there is business, there is money. Constanta is now advancing and I am confident it will register long-term development. We may open new stores in Cluj and Timisoara,” Asher Elgar, one of the company’s owners, told Business Standard.
Elgar said that the only place in Bucharest suited for the development of a store on the high luxury segment is the Calea Victoriei boulevard. “From what I have read about Bucharest, only rich and elegant people used to walk along this boulevard, here one found the most select stores, and this is still the case. Calea Victoriei is now home to top brands. The problem is there is no parking,” Elgar added.
The owner of the store chain said the company’s management is considering opening a second store but has not yet decided on the location. “We want to see happens in 2009,” Elgar said, adding that the luxury market will be the first to feel the effects of the current financial crisis, at the international level and in Romania.
