This October, Hungary achieved great success in the fashion industry thanks to the Hungarian brand Nanushka, which opened a new flagship store in New York. The brand’s first overseas store can be found in the trendiest and most popular part of the city, in Soho.
The imposing store includes three levels at a territory of 350 m2, surrounded by such luxury brand shops as Louis Vuitton, Gucci, Mansur Gavriel, and the city’s largest Apple store as well.
This means that the fashion shop is situated at a highly frequented place, attracting not only inhabitants but tourists as well.
The Hungarian fashion designer, Szandra Sándor talked about the new store to TV2 where she also revealed that –
Next year further expansion is planned to be realised to London and Los Angeles.
As the Hungarian news portal Origo reports, Nanushka products were already available for the American customers through the biggest wholesale partners and online stores.
However, by the new opening, Nanushka will be the first fashion brand in Eastern Europe that opens its own store overseas.
The Hungarian fashion brand could realise international fame by the support of GB & Partners Venture Capital Fund that saw a huge opportunity in Nanushka; consequently, EXIM Growth Fund (managed by the company) decided to invest in the brand in 2016.
Since then, the Hungarian Nanushka brand achieved a sales revenue of EUR 7.9 million (~HUF 2.6 billion) for 2018. The company grows so dynamically that by the end of 2019, this amount is planned to be doubled, by which its revenue will exceed EUR 15.2 million (~HUF 5 billion).
Source: origo.hu; tenyek.hu