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The more than Ft 1 billion World of Luxury shop opened its doors in Budapest on Friday.
The shop, which sells a broad range of luxury products, including Wellendorff jewelry, Furstenberg porcelain and Rolls Royce cars, is expected to generate revenue of several billion forints in its first full business year, said Robert Somogyi, owner and director of World of Luxury Zrt.
Somogyi said he expected to recoup his investment in three to five years. Hungarians and foreigners living in Hungary are expected to form 70% of the shop's clientele, with visitors from surrounding countries making up the rest.