The global financial crisis hit hard in central and eastern Europe, but one industry has thrived: second-hand clothing stores.While in western Europe the squeeze on household finances prompted many consumers to turn to discount retailers like Primark, their peers further east – where wages are significantly lower – have shifted to the used clothing sector.Second-hand clothes retailers in Hungary, Poland, Bulgaria and Croatia have grown rapidly and, as the pace of income convergence between the West and Eastern Europe slows, they are investing millions of euros to expand their businesses further.Brisk trade in Bulgaria, for example, has prompted one company …read more
Source: AsiaOne
