Bucharest’s leading highstreet sees record number of luxury store openings in 2009 in the entire East Europe region
Calea Victoriei, the leading highstreet in the Romanian capital of BUCHAREST has seen a record number of luxury store openings in 2009, making it the most dynamic in the entire Central and Eastern European region.
In the past 5 months more than 10 luxury shops opened: FREY WILLE (monobrand) HUGO BOSS (monobrand) BELSTAFF (monobrand) HELVETANSA (multibrand – Cartier, Vacheron Constantin, IWC, Piaget, Chanel etc), MICRI GOLD (multibrand – Bvlgari, Damiani, De Grisogono, Chopard), MHH (Montegrappa, Tibaldi, DeWitt etc) CELLINI (Brequet, Faberge, Vertu etc) MAURICE LACROIX (monobrand – adjacent to Calea Victoriei) and FERRARI STORE (monobrand).
This has been made possible by the drop in rents (over 40% compared to the levels of 2008). The average rental price per sqm for the new openings has been EUR 50/sqm. Other openings in 2010 – ROLEX (monobrand), ZILLI (monobrand), EMPORIO ARMANI (monobrand).