Soon opens the first Cortefiel store in Budapest

Beginning with 2009, Spanish group Cortefiel will market its own brand in Hungary.

Cortefiel is targeting urbanized adults between the age of 30 and 60, which makes it a rival for Marks & Spencer in particular. Cortefiel is already marketing the Springfield and Women'secret brands in Hungary, and now plans to introduce its own brand. Though the group usually arranges franchise contracts, it would open its own store in Budapest. Cortefiel entered Hungarian market in 1999, and at the moment it has three WomenSecret and five Springfield stores in Hungary. Last year the company closed its plant and moved the producing to China and Nord-Africa.