Retailer Peek&Clopenburg's sales in Romania up 21 percent

Peek&Clopenburg SRL, the company that owns three stores in Romania under the German brand Peek&Clopenburg, reported revenues of RON 125 million (EUR 28 million) in 2013, 21 percent higher than the previous year, according to data submitted by the company to the Finance Ministry. Net income grew by 34 percent to RON 17.6 million (EUR 4 million). The German retailer entered the Romanian market in 2008 when it opened its first store in Baneasa Shopping City, which is also the largest store it has in Romania. Peek&Clopenburg also has stores in Promenada Mall in Bucharest and Maritimo Shopping City in Constanta. The company has 107 employees. Peek&Clopenburg targets people with higher income and brings together brands such as Armani, Boss and Burberry. Its main competitors on the Romanian fashion retail market are Zara and H&M. editor@romania-insider.com