Romanian lady tights manufacturer Adesgo starts chain of stores

Romanian socks and tights manufacturer Adesgo, which has been active since 1926, has invested EUR 25,000 to open a second store Adesgo by Diamond in the capital city. The company also plans to open new stores in other big cities in Romania, namely Constanta, Iasi, Brasov, Timisoara and Craiova, according to the commercial director Shlomo Binder. Adesgo, one of the largest Romanian brands, already had a store within its factory on Serban Voda boulevard in Bucharest. The newly-opened store is the first high street one and is located on Nicolae Balcescu boulevard, downtown the capital city. In the first half of 2011, Adesgo reported sales of over EUR 6.5 million (RON 24 million), and for the second half the company expects a growth in sales due to the new store opening and to new products. The ladies socks manufacturer covers 20 percent of the local tights market, while about 80 percent of its production is exported, distributed under private labeling contracts to Tesco in UK, Hema in Netherlands, Falke in Germany and Dunnez in France. Adesgo is controlled by Argaman Industries, an Israeli company which took it over in 2002. Irina Popescu, irina.popescu@romania-insider.com