Otter Distribution, the importer of the GEOX shoes, intends to open four more stores in Ploiesti, Sibiu, Constanta and Ramnicu Valcea by the end of the year. "The investments in the new stores at the end of this year will amount to 60,000 euros per store. This amount will cover the costs of equipping the store, of the furniture, and of the IT system. Each store will have a minimum inventory of merchandise of approximately 120,000 euros," the company representatives stated. Otter Distribution network currently consists of 11 outlets. "We plan on establishing a presence in every major city in Romania over the next few years. In the medium run, we are also considering expansion abroad, to the neighbouring countries: Bulgaria, Hungary, Slovakia and the former Yugoslavia," the quoted sources added. Other than the exclusive rights to import the products of the Italians at GEOX in Romania, Otter Distribution also has exclusive rights to the German footwear brand Ara, to Maris by Traco (a Romanian company with manufacturing operations in Arad), as well as to German brand Gabor. The company posted 0.58 million-euro net profit in the first half of the year, an increase of 50% compared with the same time last year. The turnover reached 5 million euros, 42% higher than in the first half of 2005. The sales trend is the outcome of the market growth first of all; on the other hand, the consumer behaviour has changed, with people now more interested in quality and comfort and willing to spend more money to get them," the company officials said.
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