Escada’s second try in Romania: new store opens today at The Grand

Newsroom 03/05/2012 | 14:24

Romanian fashion designer Romanita Iovan has invested EUR 200,000 in opening an Escada store on the premises of The Grand Avenue in Bucharest. The shopping gallery is part of multifunctional compound The Grand which also hosts the five-star JW Marriott Bucharest Grand Hotel.

It is the second try for the luxury brand in Romania after the first franchise store which was opened by Iovan onVictoriei Road in 2002 went bankrupt and was closed five years later. The new store covers 81 sqm.

Escada was founded in Munich in 1976 and and is now present in about 60 countries worldwide. After filing bankruptcy in 2009, the Escada business was taken over by Megha Mittal, the daughter-in-law of steel tycoon Lakshmi Mittal.

The Grand Avenue covers some 5,000 sqm of retail space. Other brands present in the shopping gallery include Louis Vuitton, Valentino, Bang & Olufsen, Alfred Dunhill, Rolex, Davidoff, Ermanno Scervino, Mihai Albu,Saint Maurice, Vilebrequin, Sartoria and Avanti Furs.

Simona Bazavan