French luxury brands show lack of interest in Eastern Europe
Despite the evident lack of interest in the Romanian market, the French Embassy in Romania organized today an event ”Opening a sales point in Romania” at Grand Hotel Continental in Bucharest with the intention to promote the potential of the Romanian luxury market for French luxury brands. Despite having no presence with mono-brand store in Romania, major French luxury brands such as Chanel, Hermes, Christian Dior, Yves Saint Laurent have turned down participation to the event organized by the French Embassy in Romania. The event turned out to be a gathering of the local luxury
retailers, most of them luxury multi-brand boutiques.
Without having conducted any research on the Romanian luxury market, thus being unable to present any relevant data, the representatives of the French Embassy (UBI France) retorted to a networking opportunity, so that the very few luxury French brands present at the event could gather some information. Attending were Galleries Lafayette, Louis Vuitton (Bucharest Store Manager), LVMH, Dessange.
Ironically, the 20 local retailers represented at the event organized by the French Embassy, actually make 70% of their turnover selling Italian brands. The French Embassy through its economics entity UBI France has utilized research of CPP Luxury Industry Management Consultants Ltd and has, without approval, utilized CPP’s logo in printed invitations, hence legal action which the consulting company will take against the organizers.