In 2007 and 2008, fashion retail's booming period, retailersused to go to malls as they would to Mecca. Asked why, the answerused to come promptly, unhesitatingly: the constant traffic and thetenant mix. Helped by banking loans, storeowners used to announce anew opening almost on a monthly basis. When the financial crisissignificantly eroded Romanians' shopping budgets, negotiationsbetween malls and retailers started being held on a different tone."(...) Now, retailers' attitude is tougher, and developers aretrying to get as much as they can, but they're also open tonegotiations and compromises," says Adrian Cazu, store manager withBenvenuti footwear producer. The first compromise had to do withlower rents. Whereas older contracts could not be modified,negotiations for new launches set new conditions on paper: lowerrents, space delivery conditions and the clause of exiting the mallwith a three-month notice. Mall owners characterise the newrelationships as "much closer ties with retailers and "ongoingcommunication".
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