BURBERRY to expand in Bulgaria and Cyprus in 2012
Following the opening of the first mono-brand franchised BURBERRY store in the Romanian capital of Bucharest in March 2012, weekly business Capital reports local franchisee, Global Eye Group, owned by young Greek business owner Solomon Mordechai will open Burberry franchised stores in Bulgaria and Cyprus too.
Mordechai’s family sold in 2008 major regional retailer Elmec Sport Group (Greece, Romania, Bulgaria, Cyprus) – franchisee and exclusive distributor of Nike, Converse, Marlboro Classic, Calvin Klein Jeans, Energie, Camper, Miss Sixty. In 2009, Mordechai set up Global Eye Group, with the most diversified activities such as IT, real estate, energy, however, according to the Romanian Fiscal Registry, the group’s only profitable business has been LivingWell SRL, exclusive distributor of Italian premium wellness equipment maker Technogym in Romania.
It remains to be seen whether for Bulgaria and Cyprus, Burberry will accept a compromise location like the one in Bucharest, on a lateral street with limited parking, a street with lackluster derelict buildings and no retail, on the back of the Radisson Blu Hotel.