Austria“s leading crystal gifts and accessories company, Swarovski AG, will open its first Hungarian brand store in downtown Budapest in the first quarter of 2003, an executive said recently.
“The s…
Austria“s leading crystal gifts and accessories company, Swarovski AG, will open its first Hungarian brand store in downtown Budapest in the first quarter of 2003, an executive said recently. “The store will stock the full range of Swarovski“s fashion products and accessories, including crystal jewellery, gifts and collectibles, as well as home decoration articles,” said Nathaniel Carin, manager for business and retail development at Swarovski“s Liechtenstein-based office, which handles international business development. He said negotiations are under way about the exact location of the 60 sq. m. store, which will be the first Swarovski brand store in Hungary that will be 100% owned by the company“s soon-to-be-established local affiliate. Swarovski“s products are currently marketed by several retailers in Hungary. Swarovski already runs two brand stores in the region: one in Warsaw, opened in October 2000, and another in Prague launched this summer. Besides crystal jewellery and accessories, the company sells crystal components, grinding and dressing tools, precision optical equipment, reflectors for road safety, and synthetic gemstones. Swarovski“s prime exhibition and retail outlet, “Crystal World,” is located near the company“s headquarters in Wattens, Austria. Swarovski has production locations in 12 countries, and its global distribution network supplies brand stores and local retail partners in 40 countries over the world. At the same time as opening the Hungarian store, Swarovski will open new retail units in Stockholm and Copenhagen.