A total of NIS 1 million was invested in the new store, which is located in the Euromall commercial center in Pitesti. By the end of November, the company plans on opening two more branches; one in Romania’s capital, and the other in Constanta.
Honigman’s director of business development, Olly Honigman, said that TNT will have five stores open throughout Romania by the end of 2007, and 40 within the next three years.
According to Honigman, Romania was chosen as the ideal location for TNT’s first venture into the international clothing market, after extensive market research showed the country was in real need of a fashion label for young people.
In addition to its aspirations in Romania, TNT has also signed a contract with a Russian franchiser who is well experienced in marketing international clothing labels, and has already opened over 160 clothing stores in Russia. TNT is expected to open its first Russian branch in early 2008.
TNT was launched in 1999, and makes up about 20 percent of the clothing market for young people in Israel. The chain currently has 57 branches throughout the country.