Romanian online fashion retailer FashionUP has acquired the Italian store PiuStyle.com.
This is operated by a company registered in Turin, but the technical support, call-center activities and marketing will be coordinated from the headquarters in Romania. The logistic, administrative-financial and legal operations will be carried out in Italy.
“It is a challenge to enter the Italian market, especially because it is 15 times bigger than the one in Romania: the latest estimates of the online fashion market indicate a value of EUR 2.5 billion in 2017. For the PiuStyle store, we estimate a turnover of EUR 2.5 million for the next year,” said Alin Stanciu, founder and CEO of FashionUP.
The FashionUP platform has been operating on the Romanian market for eight years. Two years after its debut, the company opened a subsidiary in Bulgaria, followed by the takeover of Click4Fashion operations in Romania, Bulgaria and Hungary in 2016.
The company currently operates on four international markets.