Romanians spent EUR 50 million on luxury watches and jewelry last year, according to Euromonitor.
The market has been stagnating in the last years. This year, it could record a modest growth of 1.5%, reports local Ziarul Financiar.
Romanians account for the sale of most luxury products in Romania, as the number of tourists who make such acquisitions is very low. Many Romanians also travel to other countries for shopping.
The whole luxury market in Romania is estimated at EUR 424 million, according to Euromonitor.