Bulgarian footwear manufacturer Kolev & Kolev, specialised in child shoes, is preparing to enter the Romanian where it aims at capitalising the lack of a local strong brand despite the relatively large market, Profit.ro reported.

K&K aims to open about 10 stores in the country within three years. In order to finance the expansion, the company plans an initial public offer (IPO) under which it plans to raise BGN 2 million (EUR 1 mln). Of the total amount, about BGN 1.2 mln (EUR 600,000) will go towards financing the expansion in Romania.

The company, a family business, is a leader in Bulgaria in the production of child footwear, having its own stores in Sofia, Burgas and Plovdiv, partnering nationally with nearly 50 other retailers and exporting to the Czech Republic, Hungary, Lithuania, Macedonia, and California (USA).

The production capacity of Kolev & Kolev is 100,000 pairs of shoes per year, but, given the size of the Bulgarian market, the company is limited to half of the potential production.

A study by the Bulgarian company revealed that Romania does not have a strong local brand in the segment of child footwear, although the local market is larger than the one in Bulgaria.

In this context, Kolev & Kolev wants to open, in the next three years, 8-10 stores in Romania. Kolev & Kolev company was founded in 1996 as a retailer and started its own production in 1998.

Recently, the company has completely abandoned the marketing of other brands, focusing exclusively on the sale of items under its own brand.

(Photo: Kegi Kolev K&K Facebook Page)

editor@romania-insider.com