Romanian-owned luxury jewellery brand name TEILOR is opening a new shop in Budapest.
Now, TEILOR owns three outlets in Hungary and a overall of 62 brick-and-mortar retailers in five CEE marketplaces.
“For us, Hungary is 1 of the most crucial international marketplaces, and the effectiveness of our other shops has inspired us to increase our existence in this region. We will keep on to explore new possibilities to do so, as we program to open outlets outside Budapest as well,” stated Willy Dicu, TEILOR CEO.
“With the opening of each and every new place, our goal is to give prospects a luxury knowledge. The top quality of the products and solutions, the suggestions, and the store architecture are essential differentiators by which we have managed to make buyer loyalty. This phenomenon was observed in our stores in Hungary, where there is a large desire in worldwide developments in vogue and jewellery, and consumers enjoy our products and solutions.”
The new TEILOR retail outlet in Budapest is situated in the Arena Mall, the major buying mall in the town.
The product portfolio involves a range of gemstone bracelets, with diamonds, rubies, sapphires, emeralds, and tanzanites, which include a Tennis bracelet really worth much more than EUR 25,000 and a butterfly ring value more than EUR 10,000.
The opening of the third retail store in Hungary is component of TEILOR’s targeted intercontinental growth tactic, for which the corporation has budgeted investments truly worth EUR 5.5 mln this 12 months.
It is the sixth shop opened by TEILOR this 12 months, immediately after obtaining opened a few in Romania, in the Colosseum Shopping mall in Bucharest, in Iulius Mall in Iasi, and in the Piatra Neamt Shopping Town, and yet another two in Central Europe – in the Posnania Buying Middle in Poland, and in the Westfield Chodov Searching Heart in the Czech Republic.
By the end of 2022, the TEILOR community will arrive at 64 outlets, such as 51 suppliers in Romania and 13 intercontinental stores. In addition to its brick-and-mortar stores, TEILOR at this time operates 5 on the internet platforms: teilor.com, teilor.ro, teilor.hu, teilor.bg and teilor.pl.
As the global retail outlet network expands, TEILOR plans on raising brand name awareness in Hungary, Poland, Bulgaria, and the Czech Republic, to extend their shopper foundation.
In 2021, TEILOR registered a turnover of EUR 47 mln, a 65% improve in contrast to the EUR 28.5 mln recorded in 2020. The brand states that the significant maximize in sales was pushed principally by a rising desire for high-finish jewellery and improved revenue of engagement rings.
(Photograph source: TEILOR)