AAV Group, a company managed by Vicentiu Zorzolan and the franchise holder of clothing brands Esprit, Springfield and Woman'Secret, is set to launch Cortefiel in Romania by yearend.
The group has already signed the necessary franchise contract, as well as a contract for another two brands, and also plans to open a multibrand home decor and accessories store.
"We're in advanced talks to get the franchise for the two clothing stores. One of them is a family-store, which covers around 600 square metres, and targets young people below 30 with monthly incomes of 300 to 400 euros. The second targets the medium-higher price segment and covers around 200 square metres," Vicentiu Zorzolan told ZF.
For the two new brands, AAV Group management is considering both Bucharest and the major cities in Romania. The brand positioned on the medium segment will be present in 15 stores by 2011, while the other will be represented in six stores.
The company's development policy also envisages the launch of a multibrand store concept that covers around 500 square metres on the home&decoration market. "The Romanian home decor market is still in its early stages, but will grow with the housing market. (...) This year, we'll open a store in Bucharest and by 2011 we are going to reach 8-10 stores," says Zorzolan.
For the three new concepts, AAV Group has budgeted investments worth around 6m euros in addition to the budget earmarked for the opening of Cortefiel stores. "(...) This brand, which targets people with incomes of 600-800 euros, will require investments worth as much as 500,000 euros," says Zorzolan.
The company, which set out to attain 20m-euro turnover this year, up 70% year-on-year, targets revenues worth as much as 100m euros in 2011 as a result of the expansion of the network of brands part of its portfolio.
"This target c
