English
The world economic crisis gets is affecting the market of luxury goods in Romania, with experts expecting a 25% drop in sales for the year 2009.
Whereas the September - December 2008 period saw a 10% drop in sales for all the segments of the luxury goods industry, for 2009 the economic crisis and the announced VAT growth for luxury goods "will lead to a drop in sales of 20-25% for all the market segments", claims Oliver Petcu, Managing Director of CPP Management Consultants Ltd. He feels that the least affected will be the sellers of watches and jewelry, and the most affected will be the fashion, furniture and auto industry.
The representative of CPP Management Consultants Ltd feels that the evolution of the exchange rate will not directly affect the sales of luxury goods, but he warns that "we will see a drop in sales for seasonal products in particular, such as designer items which are tied to a specific season. We are going to see mix&match more and more, with customers with money wearing both Zara and Armani at the same time", Mr. Oliver Petcu concluded.
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