Italian luxury fashion house Prada is investing EUR 19 mln in a factory in Romania that will employ over 300 people.

The company will get a EUR 7.83 mln grant (41% of total) from the Romanian government, Profit.ro announced.

The company already has a factory in Romania, located in Sibiu, where it produces leather products. It is operated by the company Hipic Prod Impex from Sibiu County, which ended 2020 with a turnover of RON 28 mln (EUR 5.8 mln), down from RON 45 mln (EUR 10 mln) in the previous year.

Like the rest of the luxury sector, Prada began to see signs of a return to business last summer, with the reopening of the Chinese market.

(Photo: Tea | Dreamstime.com)

andrei@romania-insider.com