The first mono brand Gucci store in Bucharest will be opened by mid December this year, despite initial rumors of a possible delay, according to CPP Luxury Industry Management Consultants. The Gucci store will be located on the ground floor of the five – star hotel Athenee Palace Hilton and will cover 280 sqm. The retail area in the hotel has recently underwent renovation.

“Gucci will have the best location in Bucharest, not only being positioned in the very heart of the city, on the leading shopping high street of Calea Victoriei, but also being on the right section of Calea Victoriei, with steps from secure parking facilities, and with large windows assuring excellent visibility,'' said Oliver Petcu of CPP Luxury Industry Management Consultants.

Gucci will join brands like Rolex (just opened), Paul & Shark, Ermenegildo Zegna, Emporio Armani (just opened) and Estee Lauder, all with stores on Calea Victoriei. Other luxury brands with mono brand stores in Bucharest include Louis Vuitton, Canali, Hugo Boss, Moschino, Paul & Shark, Pal Zileri.

The opening comes on a luxury market which has seen a drop of 30 percent in sales this year, after a 20 percent decrease last year. According to CPP, a recovery is not expected before the Fall season of 2011.  In 2009, Gucci generated EUR 2.266 million in revenues. The retailer was directly operating 283 stores.

(In picture, Gucci's flagship store in Shanghai)

editor@romania-insider.com