The French-Italian luxury clothing manufacturer Moncler will invest EUR 10 mln in its factory that it has operated since 2015 in Bacau, in eastern Romania. The new building will be completed later this year.

"The new building will stretch over 8,000 square meters and will include a new production space equipped with state-of-the-art technologies, as well as a research and development center. At the same time, Moncler is building a kindergarten for the employees' children," the company said in a statement released on February 21.

When fully operational, the new unit will hire approximately 300, bringing the capacity of Moncler Industries Yield, the group's Romanian subsidiary, to a total of 1,500.

In separate news, Italian luxury fashion house Prada announced that it is becoming the sole owner of the factory in Sibiu, central Romania, after buying 20% ​​from a local entrepreneur, Ziarul Financiar reported.

Prada has a total of 23 production units, of which 20 in Italy and one each in Great Britain, France and Romania. Locally, the group is developing a new, 11,000 square meters factory.

"The new production unit will be ready by the end of the first half of 2022 but will become operational at the beginning of the second half of the same year," said Marta Monaco, senior financial and corporate communication manager at Prada SpA, last October.

(Photo: Cineberg Ug | Dreamstime.com)

andrei@romania-insider.com