CCC Shoes & Bags announced late last month its acquisition of a shoe retailer in Romania, Shoe Express, for €33 million. The company was previously owned by Peeraj Brands, the exclusive franchisee of CCC in the country, with a network of 54 stores generating annual revenues of €33 million.
CCC sees a strong potential for development in Romania, a market where retail sales of footwear grew last year by an estimated 9 percent to €830 million.
Meanwhile Adler International, a big Polish franchisee of CCC, has sold off 41 stores in Poland and will use part of the proceeds of 68.5 million zlotys (€16.1m-$19.1m) to accelerate the expansion of the CCC franchise network in Ukraine, with the opening of new 50 stores in the country by 2021.
Earlier this year CCC Ukraine LLC, the Lviv-based subsidiary of CCC, had declared a goal to open 15 stores in the country during 2018. At the start of this year, CCC Ukraine was running eight stores located in the major cities of the country.
CCC has progressed strongly with its international business lately, as we have previously reported, increasing sales twofold over the past two years. It ended last year with a total of 925 brick-and-mortar stores all over Central Europe and the Balkans, plus online stores in 11 countries.
It has already announced that this year it is entering the markets of Moldova offline and Sweden, Spain, France and Italy online, while preparing a launch in the Middle East.
In addition to Romania and Ukraine, CCC had franchised stores last year also in Latvia, Lithuania and Estonia. It also had 796 directly owned stores in Poland, the Czech Republic, Slovakia, Hungary, Germany, Austria, Slovenia, Croatia and Bulgaria.