Adidas closes well known Bucharest store

Sports equipment retailer Adidas closed its shop in Piata Romana from Bucharest, one of their oldest and best known shops in the Romanian capital. "Current Adidas retail standards require a minimum area for new retail concepts. The store on Bvd. Magheru became too small to support these concepts, which is why we made ​​the decision to close it,” said Dimitris Karakassis CEO of Adidas Romania. He also said that the company's future plans in Romania will aim for large store formats, allowing more collections to be displayed. The retailer opened an outlet in Bucharest's Old Town last year, after having renovated a two-floor villa on Lipscani street. The store is one of the few fashion units in the area, which is mostly crowded with bars and restaurants, while Adidas is the first large fashion brand that has opened a store in the old part of the Romanian capital city. Adidas’ income on the Romania market in 2010 was EUR 18 million, down from EUR 21 million in 2010 but with almost EUR 1.2 million euros more than in 2009. Adidas AG, parent company of the Adidas Group, Reebok and others, was founded in 1948, and is a German sports gear manufacturer. Besides sports footwear, the company also produces bags, shirts, watches, eye-wear, and other sports and clothing related goods.The company is the largest sportswear manufacturer in Europe. Alex Camburu, alex.camburu@romania-insider.com (photo source: Adidas; store in London)