Footwear Retail in Romania: Deichmann the measure of all things

The total turnover in the Romanian footwear market currently amounts to some 3.5 bln RON, and has developed tremendously in recent years, with annual growth rates of some 7.5% during the last 3 years.
Most market players have benefited from this positive development, especially Deichmann and CCC. Both are expansive international retailers covering the lower price segment. But not everyone was able to take advantage of recent market growth: former market leaders Leonardo (also low price segment) and Stone Creek did not manage to keep up with the new foreign competitors and recorded dramatic set-backs. After a long period of market dominance, Leonardo was displaced as market leader by Deichmann in 2013, and eventually declared bankruptcy in 2015. However, a number of outlets have since been acquired by competitors and remain managed under the Leonardo brand, and the outlet network is now even expanding again. Stone Creek has also reached bankruptcy, and it remains to be seen whether the brand will continue to exist in the future.