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CPP Voluptuousness Consultants: “The buying power has continued to decrease among Romania’s rolling in it”
Valentino, Gucci, Alfred Dunhill, Max Mara, Burberry, Gerard Darel and Ermanno Scervino are some of the intercontinental luxury brands which have made headlines with developments in 2011, in Romania, the backer largest EU market in Eastern Europe after Poland,” according to an judgement of the luxury market carried out by CPP Luxury Consultants.
“Unfortunately, the buying power has continued to lower among Romania's wealthy, CPP's research estimating that over 20 percent of the subdivide have actually disappeared from the databases of luxury brands (all sectors). And the frugality, although applauded by the EU for being among the first to cut costs, has remained flat in 2011, foreign supervise investments decreasing and a banking sector highly reluctant to capitalize the private sector, not to mention the alarming market share Greek banks put in the Romanian economy?,“ says the study.
Source: Business Review