Romanians appetite for luxury

by admin on Jun.17, 2009, under Bucharest Market

Romania is the second largest market in Central and Eastern Europe with
22 millions consumers and a new member the European Union since 2007.
Romanian born billionaires listed in Forbes
doubled in last 2 years, luxury car sales growth has
double digit figures, luxury real estate reached Older
Europe pricing, and last, but not least, Romanians
Latin driven appetite for status and high-end brands is fuelled by the real estate boom which created a new social class of estate owners with net worth
between 1 and 3 million euros.
Over 130000 registered entrepreneurs earn over
4000 euro per month.
Romanian GDP registered steady growth rates, with the highest value of 8.4% in 2004, and 7.7% in 2007.
Total foreign direct investments in Romania reached EUR 30.9 billion at the end of 2006, and a record high of EUR 9 billion in 2007. Romania has over 18 million mobile
subscribers.
Romania has implemented most European Union Directives that protects copyrights. An important issue for luxury brands is the Copyright Law enforcement, and a strong argument for Romania is that Louis Vuitton, Gucci were involved in several civil and criminal lawsuits since 2003 against counterfeiting practices and due to justice reform they started to win the most important cases.

Romania is the second largest market in Central and Eastern Europe with 22 millions consumers and a new member the European Union since 2007.

Romanian born billionaires listed in Forbes doubled in last 2 years, luxury car sales growth has double digit figures, luxury real estate reached Older Europe pricing, and last, but not least, Romanians Latin driven appetite for status and high-end brands is fuelled by the real estate boom which created a new social class of estate owners with net worth between 1 and 3 million euros.

Over 130000 registered entrepreneurs earn over 4000 euro per month.

Romanian GDP registered steady growth rates, with the highest value of 8.4% in 2004, and 7.7% in 2007.

Total foreign direct investments in Romania reached EUR 30.9 billion at the end of 2006, and a record high of EUR 9 billion in 2007. Romania has over 18 million mobile subscribers.

Romania has implemented most European Union Directives that protects copyrights. An important issue for luxury brands is the Copyright Law enforcement, and a strong argument for Romania is that Louis Vuitton, Gucci were involved in several civil and criminal lawsuits since 2003 against counterfeiting practices and due to justice reform they started to win the most important cases.


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