The Calagiu family has closed the Gucci store on the ground floor of the Athenee Palace Hilton hotel in Bucharest, marking the end of its presence after 11 years. The closure is a significant event for the Romanian luxury market because the boutique had been in the same location for over a decade.
The Italian brand was brought locally in 2010 by Alessandro Amato, who later sold the franchise to the Calagiu family, which has businesses in construction and maintenance.
Market sources state that the reason is not the result of local business performance, but rather the parent company’s decision to abandon franchised units.
In the case of the Bucharest boutique, 2020 ended with a turnover of 20.7 million lei, 10.7% higher than in 2019 and nearly double compared to 2018.
The closure of the Bucharest boutique occurs less than two years after the Calagiu family also closed the La Perla store in Bucharest, which also operated under a franchise at the ground floor of the five-star Radisson Blu hotel on Calea Victoriei.
Frequently Asked Questions
Why did the Gucci store in Bucharest close?
The closure was not due to local financial performance, but rather the parent company’s global strategy to move away from franchised business models.
How long was the Gucci store open at the Athenee Palace?
The boutique operated at the ground floor of the Athenee Palace Hilton for 11 years, having opened its doors in 2010.
Who managed the Gucci franchise in Romania?
The franchise was managed by the Calagiu family, who acquired it from Alessandro Amato and previously operated the La Perla boutique at Radisson Blu.