Russian retailer Oodji will soon open its first store in Romania within the Palas Mall shopping center in the city of Iasi, the mall owners have announced. The store will cover 350 sqm within the Iasi-based shopping center.

The Russian retailer, initially launched in 1998 under the name Oggi, has re-branded to Oodji as it expanded across Europe. It has 400 stores under its brand, in Russia and in countries like Ukraine, Kazakhstan, Armenia and the Republic of Moldova.

The Palas project includes retail, offices and residential spaces, along with hotels. The project is built on a 120,000 sqm area and should be completed this year. It will include Palas Shopping Street, Palas Mall, two office buildings and four residential buildings. It is developer by Iulius Group, which also owns mall under the Iulius brand in Iasi, Timisoara, Cluj and Suceava.

The project, which will require an investment of some EUR 260 million, is being built in partnership with the Iasi City Council, the owner of the land where the project will stand. The real estate developers had estimated the project would bring EUR 150 million in benefits to the local budget until 2055.

The shopping center hosts retailers such as H&M, Tommy Hilfiger, New Yorker, C&A, Stefanel, Tosca Blu, Il Passo, L’Occitane, Auchan and KFC Drive Thru.

editor@romania-insider.com

(photo source: Palas)