German retailer Peek & Cloppenburg opens new store in Romania

German fashion retailer Peek & Cloppenburg will open a 4,000-sqm store in Shopping City Timisoara, a mall owned by the South-African group NEPI. It is the company’s fifth store in Romania and the second one outside of Bucharest. The retailer has also opened a store in Constanta. Peek & Cloppenburg entered Romania in 2008. It runs three stores in Bucharest, in the Baneasa Shopping City, Mega Mall, and Promenada Mall shopping centers. In total, the German retailer, which is headquartered in Dusseldorf and Vienna, operates 118 stores in Europe, 68 of which are located in Germany. The company sold products of over EUR 37 million in Romania last year, up 5.5% compared to 2014. The net profit amounted to EUR 4.2 million, similar to the level of 2014. editor@romania-insider.com