Teilor, the Romanian chain of luxury jewelry stores present across the Central and Eastern Europe region, opened its first store in the Czech Republic. It thus reached a total of 63 brick-and-mortar stores in five CEE markets, planning more openings this year.

The new Teilor store is located in the Westfield Chodov shopping center in Prague and covers 61 square meters. Four employees manage it.

“Entering the Czech market through opening the store in Prague marks a new milestone in Teilor’s development process. Expanding into a new market is always a challenge. Still, previous experiences in Poland, Hungary, and Bulgaria make us extremely confident about our development in Czechia,” said Willy Dicu, Teilor’s CEO.

“Based on our market research in this country, we saw a significant growth opportunity in the luxury jewelry segment in which we operate. We expect the Teilor brand to strengthen and mature in the Czech Republic in the coming years, especially in the context of opening other stores that we are considering for this market,” he added.

This most recent opening in Prague is part of Teilor’s targeted international expansion strategy, for which the company has budgeted investments worth RON 27 million this year. It is the fifth Teilor store inaugurated this year after three new stores in Romania and one in Poland.

In the second half of this year, the company aims to open three more stores, two in Poland (at the Stary Browar in Poznan and Wroclavia in Wroclaw) and one in Hungary (at the Arena mall in Budapest).

Thus, by the end of 2022, the Teilor network is set to reach 66 stores, including 53 stores in Romania and 13 international stores in Poland, Hungary, Bulgaria, and the Czech Republic. In addition to brick-and-mortar stores, the retailer also operates five online platforms.

In 2021, Teilor registered a turnover of RON 231.5 million - a 65% increase compared to the RON 140.4 million recorded in 2020. The increase in sales was driven primarily by a growing demand for high-end jewelry and increased sales of engagement rings.

Traditionally, Teilor generated more than a quarter of its annual sales between July and September due to increased engagements during the summer period.

irina.marica@romania-insider.com

(Photo source: the company)