Otter Distribution, one of the largest shoe retailers in Romania, opened a Promenade store near Victoria Square on Nicolae Titulescu Boulevard. According to ZF, the investment comes to several hundred thousand euros.
Otter Distribution Group belongs to Philip Schwartz and operates several shoe brands in the country including Otter, Geox, Clarks and Promenade. The Promenade chain of stores was introduced last summer, with the first unit opening in the TOM shopping center in Constanta.
The Romanian finance ministry estimates the country’s footwear market to be worth up to €750m. Last year Otter Distribution had a turnover of €16.5m.
