Unirea set to open 6 H&M and Inditex stores in two months, after 10% turnover drop
Europe's biggest apparel retailers, H&M and Inditex, are
going to open six stores in Unirea shopping centres of Bucharest
and Braşov, controlled by Adamescu family, by late April.
The centres, operated through Unirea Shopping Center company, last
year generated revenues worth 86.5m lei (20.5m euros), down 10%,
according to the data the company's representatives sent ZF.
Adamescu family and businesspeople Gabriel Popoviciu (Băneasa
Shopping City) and Iulian Dascălu (Iulius Mall) are the only
Romanian investors annually deriving revenues worth above 20m euros
from shopping centre operations, a business that has contracted in
recent years amid the crisis and dwindling consumption
appetite.
Unirea Shopping Center reached 1.4m-euro gross income last year,
according to company data.
To better adapt to market conditions, where real estate developers
are coming up with modern malls and international tenants, 10% of
the spaces in Bucharest and Braşov Unirea projects, namely around
6,000 square metres, are currently being fitted out for the opening
of the 6 stores to be operated by Inditex and H&M, with annual
turnover worth above 10bn euros each.