Colliers: Romania becomes increasingly attractive for international fashion brands

Forever 21, Tati, COS, Max & Co, Cerruti 1881, Chopard, and Boggi are among the new fashion brands that have entered the local retail market this year, according to the real estate consultancy firm Colliers International. Next year, more new brands are expected to enter Romania, especially brands from Poland and Turkey. The recent openings of new shopping centers in Bucharest such as ParkLake Plaza și Verada Mall have brought several new brands in the local market. Forever 21 opened its first store in ParkLake Plaza whereas the French brand Tati chose Veranda Mall, said Delia Popescu, senior associate in the retail department of Colliers International. “Romania continued to be the center of attention for the retailers that took part at the MAPIC (the international retail property market) fair in Cannes. Most of the retailers that were present were expecting to end the year with sales growth ranging between 20-30% compared to the previous year,” Popescu added. Over 200,000 sqm of retail space has been delivered in Romania this year. It has been the year with the highest volume of deliveries on this sector after 2009. Almost half of the delivered stock has been located in Bucharest, where the stock of commercial space has reached about 1.6 million sqm. However, international concepts such as TK Maxx, Primark, and Toys ”R” Us will most probably postpone the decision to enter the local market until a new economic cycle, according to Colliers. These brands have entered countries in the Central and Eastern Europe only in the last years, starting with countries such as Germany, Austria, Poland, and Czech Republic, and are now focusing on serving these markets. Three of the world’s fashion giants own 15% of the Romanian market editor@romania-insider.com