Nikon Importer To Romania Expect 15% Turnover Decline In 2009

• Nikon opens first mono-brand store in Romania

Skin, the importer and distributor of Nikon cameras to Romania, expects a roughly 15% turnover decline this year to approximately 120 million RON, Manager Camil Perian told BURSA upon inaugurating the first Nikon mono-brand store in Romania. He added that the company had closed the first half of the year with a turnover of some 38 million RON, down by 6% from the previous year. "A third of the annual sales are usually made in the first half of the year. The second half normally generates two thirds of the annual sales," Perian added.

In his opinion, the financial results achieved in the first half of the year are very good, as the business grew 75% compared to 2007. "The year 2008 was very good for us, as everyone would buy virtually anything on credit. The market has calmed down now and we are closed to reality. It is a normal reaction of the market to the current economic conditions," Skin Manager Camil Perian added.

Skin is a distributor of IT products and an important supplier to some of the largest hypermarkets and electro-shops in Romania.

• Second Nikon store in Europe opens in Bucharest

Japanese camera manufacturer Nikon has recently opened the first mono-brand store in Romania, which is the second in Europe after the one in London. Nikon officials did not disclose the value of the investment.

Nikon Brand Manager for Romania Radu Niculescu stated that the purpose of the mono-brand store opened in the Baneasa Shopping City was not to boost sales over a given period of time, but to position the brand on the Romanian market.

In his opinion, the Romanian market for cameras has a significant growth potential, considering the current ratio of 1 camera to 100 persons in the cities and 1 camera per 1000 persons countrywide. According to Niculescu, approximately 200,000 - 300,000 cameras were sold in Romania last year.

"We expect the market to change in 2009, but not necessarily through an increase in the total number of sold cameras, but an increase in the value of the market. Specifically, we expect sales of Digital Single Lens Reflex (DSLR) cameras to pick up in 2009," Niculescu added.

Cannon is the main competitor of Nikon on the DSLR segment. "In Romania, one out of two DSLR cameras is a Nikon," Niculescu added. The company is one of the top five players on the overall camera market.

In turn, Skin Manager Camil Perian estimates Nikon sales to increase by 20% in December, which is the peak month of winter sales.