American fashion retailer Forever 21 will open its first store in Romania in ParkLake, a new shopping center to be opened in Bucharest this year. The store will cover 1,600 sqm and will sell clothes and accessories for men, women, and children.

“Forever 21 firmly believes that Romania has a high potential. We are glad that we can announce the opening of our first store in Bucharest, in a remarkable project such as ParkLake,” said Alexandros Doukas, CEO of the Forever 21 franchise.

The retailer has its headquarters in Los Angeles and runs more than 700 stores worldwide. Its sales amounted to USD 4.4 billion in 2015.

Located in Bucharest’s Sector 3, near the Alexandru Ioan Cuza Park (also known as IOR or Titan), ParkLake represents an investment of EUR 180 million. The project is developed by Portuguese investor Sonae Sierra in partnership with Irish group Caelum Development.

The mall has previously signed contracts with fashion retailers Zara, Bershka, Massimo Dutti, Stradivarius, Pull&Bear, Zara Home and Oysho retailers, all of them belonging to the Spanish Inditex Group, as well as H&M, Koton, Maxitoys, and Maxbet. The shopping center will have a gross leasable area of 70,000 sqm, more than 200 shops, 23 restaurants, and a cinema multiplex.

ParkLake mall in Bucharest reaches 70% occupancy rate, opening set for 2016.

Irina Popescu, irina.popescu@romania-insider.com