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Saxoo eyes new markets

Swiss-owned Hungarian “club wear” franchise Saxoo plans to expand further abroad this year to make up for a fall in domestic demand, business daily Világgazdaság reported.

There are 32 Saxoo stores in Hungary and four in Slovakia. But the franchise aims to start expanding further already in H1 2009, opening two stores in Prague, two in Brno, two in Vienna and one in Paris. Afterward, Saxoo could open stores in Scandinavia or Dubai.

Saxoo's management expects the stores in Hungary to have sales of HUF 800 million in 2009. The management sees the foreign stores generating turnover of HUF 300 million – HUF 350 million. (MTI – Econews)