American fashion brand Forever 21 opens its first store in Romania

Famous American fashion brand Forever 21 will open its first store in Bucharest in September. The store will be located in the ParkLake mall and will have a total retail surface of 1,600 sqm. The store opening is part of a rapid expansion carried out by Teren Management Europe, the exclusive franchisee of the Forever 21 brand in 9 European countries. By end-2016, the company plans to open new stores in five countries: Czech Republic, Poland, Portugal, Romania, and Slovakia. “The Romanian market is one of the most important retail destinations for us. Its potential and its development and modernization level in recent years are impressive and promising,” said Alexandros Doukas, CEO Teren Management Europe. Swedish brand H&M, Spanish brand Zara, and German C&A are currently the biggest fashion retailers in Romania in terms of sales. H&M had sales of EUR 150 million in Romania last year, up 27% compared to 2014, and Zara was close to EUR 114 million, up 24%. Zara’s parent-group Inditex, which is present in Romania with most of its brands, had sales of over EUR 200 million in Romania last year. H&M’s premium brand opens first store in Bucharest editor@romania-insider.com