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Owner of major jewelry retailer admits highstreet is the most appropriate location for luxury retail (Bucharest,Romania)
News 25 September 2009
One year since the opening of its location within Baneasa Mall, the owner of MICRI GOLD admits highstreet remains the most appropriate for luxury jewelry and watches retail. Micri Gold is the distributor of BVLGARI, CHOPARD, DE GRISOGONO in Romania and currently has two locations - one on Magheru Boulevard and a second one in Baneasa Mall. In an interview to Ziarul Financiar, the owner of Micri Gold also added that the location in Baneasa Mall has been an experiment for the company which has demonstrated that the malls are not suitable for luxury products.
MICRI GOLD announced the opening of a new boutique in a 250 sqm space on leading highstreet Calea Victoriei, on the groundfloor of the new five star GRAND HOTEL CONTINENTAL due to open this Fall. The major competitors of Micri Gold are HELVETANSA which opened a new location on Calea Victoriei at the beginning of this month and CELLINI which are also opening a boutique on Calea Victoriei this Fall.
The new openings of Calea Victoriei have been facilitated by the drastic drops of rents on Calea Victoriei, thus making a luxury business feasible. In a recent Cushman & Wakefield report, Bucharest ranks as the European Capital which registered the highest drop of rents on its major highstreet (48,1%).