It's official: H&M opens first Romanian store on March 25
Swedish retailer Hennes&Mauritz, with 14 billion euros in
turnover, will begin operations on the Romanian fashion market on
March 25. The 1.9 billion-euro market per year saw leading H&M
rivals Zara and C&A report profit from the first full year in
business.
With prices of 5 euros per T-shirt, 9 euros per dress and 19 euros
per jacket, the Swedish giant will seek to make room for its
business on a market where stores such as Lee Cooper, Cavaliere,
Ipekyol, and Mandarina Duck went insolvent, while Zara, C&A and
New Yorker continued expansion, at stake being a monthly budget of
7.5 euros per capita.
H&M will open its first store on the Romanian market on March
25 in AFI Palace Cotroceni, according to officials of the western
Bucharest shopping centre, who did not, however, provide further
details.
Taking up two floors, the store will be the first of five to open
in late March - early April, according to market sources.
H&M representatives did not answer ZF's request as to the
opening dates of the first stores and their positioning, but said
six stores would open in the spring of 2011.
So far the company has signed contracts for stores in AFI Palace
Cotroceni, Băneasa Shopping City, Plaza România, Bucureşti Mall,
the two Unirea Shopping Centers in Bucharest and Braşov, Iulius
Mall in Timişoara and Cluj, in the shopping area of the Palas
project in Iaşi, in Arad's Galleria Arad and in Constanţa's
Maritimo.