Romanian luxury jewelry brand TEILOR continues its European expansion
Romanian-owned luxury jewelry brand TEILOR opens a new store in Budapest.
Today, TEILOR has three stores in Hungary and a total of 62 physical stores in five markets in Central and Eastern Europe.
“Hungary is one of the most important international markets for us, and the performance of our other stores has encouraged us to expand our presence there. ‘open stores outside Budapest as well,’ said Willy Dicu, CEO of TEILOR.
“With each new location opening, our goal is to provide guests with a luxury experience. The quality of the products, the advice and the architecture of the store are important differentiators thanks to which we have succeeded in building customer loyalty. This phenomenon has been noticed in our stores in Hungary, where there is great interest in international fashion and jewelry trends, and where customers appreciate our products.
The new TEILOR store in Budapest is located in the Arena Mall, the city’s largest shopping mall.
The product portfolio includes a selection of gemstone bracelets, featuring diamonds, rubies, sapphires, emeralds and tanzanites, including a Tennis bracelet worth over EUR 25,000 and a butterfly ring worth value of more than 10,000 EUR.
The opening of the third store in Hungary is part of TEILOR’s targeted international expansion strategy, for which the company has planned investments worth 5.5 million euros this year.
This is the sixth store opened by TEILOR this year, after having opened three in Romania, in the Colosseum Mall in Bucharest, in the Iulius Mall in Iasi and in the Piatra Neamt Shopping City, and two others in Central Europe – in the Posnania Shopping Center in Poland and the Westfield Chodov shopping center in the Czech Republic.
By the end of 2022, the TEILOR network will reach 64 stores, including 51 stores in Romania and 13 stores internationally. In addition to its physical stores, TEILOR currently operates five online platforms: teilor.com, teilor.ro, teilor.hu, teilor.bg and teilor.pl.
As the international store network grows, TEILOR plans to increase brand awareness in Hungary, Poland, Bulgaria and the Czech Republic, in order to expand its customer base.
In 2021, TEILOR recorded a turnover of 47 million euros, an increase of 65% compared to the 28.5 million euros recorded in 2020. The brand states that the strong increase in sales was mainly driven by growing demand for high-end jewelry and an increase in sales. engagement rings.
(Photo source: TEILOR)