Meli Melo extends to Bulgaria and aims for new markets
Meli Melo Paris, one of the main local fashion jewellery and accessories in Romania, has opened its first store in Sofia, Bulgaria, with EUR 100,000 investment and it’s aiming for expansion on other European markets, the company announces.
This is not the first foreign market for Meli Melo Paris, the company had opened in 2007 the first of the two stores in Chisinau, Republic of Moldova.
The store in Bulgaria was opened at the end of March 2013 with 50 sqm area, being situated in Mall of Sofia, the main shopping destination in the region. The EUR 100,000 investment includes the initial merchandise stock and it is planned to recover in the first year.
According to the company’s representative, the first store in Bulgaria will attract nearly 3,000 client per month, and the first year’s estimated turnover is EUR 350,000.
On medium term, the company aims the opening of the second store in Bulgaria, as well as the opening this year of its first store in Moscow, Russia. In the expansion strategy of the company are included another three stores in this country. Poland and Ukraine are also on the retailer’s list for potential expansion in the next 3-5 years.
As for the Romanian market, Meli Melo will open this year 3 new stores in Bucharest and countryside.
Meli Melo Paris was founded in 1998, with main French shareholders. The company has currently a network of 41 stores with 226 employees and reported a turnover of EUR 8.25 million for 2012. (source: wall-street.ro)