French retailer Kiabi wants to sell all its stores in Romania
French clothing retailer Kiabi has eyed a market exit from Romania, where it has been active for the last three years. The retailer is looking to sell its existing six stores in the country, according to Yann Le Blay, company director quoted by Mediafax. The drop in the 2011 turnover is the main reason behind the planned pullout.
Kiabi runs four stores in Bucharest, one in Constanta and one in Cluj – Napoca. The retailer invested EUR 3 million in developing these stores, and was hoping to open 20 more units in Romania by 2014.
Kiabi, one of the largest retailers in France, specializes in selling clothing, accessories and shoewear in stores covering 1,000 to 2,000 sqm.
The retailer is owned by the Mulliez family, which owns the Auchan hypermarkets, the sports retailer Decathlon and the do-it-yourself retailer Leroy Merlin.
editor@romania-insider.com
(photo source: Grand Arena)
