VERSACE closes in Bucharest, Romania

VERSACE Group is present officially in Romania through a franchise store of its VERSACE JEANS COUTURE line. The store which had been opened on Calea Victoriei more than 3 years ago, will close at the end of June 2009. The owners, a Bulgarian/Romanian company blame the current market conditions but mainly the unfortunate choice of location. The shop is located on a corner building with all its main windows facing a lateral street, plus the opposite neighbouring space is the large construction site of a future five star hotel complex, which has been proceeding very slowly. The Versace Jeans Couture line used to be produced until 2 months ago by large manufacturer ITTIERRE, which had filed for bankruptcy at the beginning of this year. With the Fall/Winter season, Versace will re-launch is VERSUS line which will be sold in Versace Jeans Couture locations.
The only performing Versace Jeans Couture franchise stores in Eastern Europe are in Warsaw, Poland and Sofia, Bulgaria.