H&M plans store opening in RomaniaFriday, 30 July 2010
Fashion retailer H&M has reportedly signed the leasing
contract with the owner of AFI Palace Cotroceni mall in Bucharest, AFI Europe, in a forward step to opening its first store in Romania within Cotroceni Park in March next year, according to media reports.
Growing speculation suggests that Bucuresti Mall, Parklake Plaza and Unirea Shopping Center in Bucharest are possible locations for the Swedish retailer, but nothing has yet been confirmed.
H&M has around 2,000 stores in 36 different countries and employs over 74,000 people. The company’s biggest market is Germany, followed by the UK and Sweden and it offers fashion by Internet and catalogue sales in Sweden, Norway, Denmark, Finland, the Netherlands, Germany and Austria.
The potential for expansion continues to be on the cards for the retailer but the right location is crucial for growth.
In an open statement on the H&M website, the retailer says: “Before H&M decides to move into a new market, an assessment is made of the market’s potential. Factors such as demographic structure, purchasing power, economic growth, infrastructure and political risk are analysed.”
The retailer continues: “An on-the-spot assessment of the customer base and store locations are then carried out. The first store would preferably be a large store in the best business location in a big city, which is subsequently supplemented with a mix of stores offering all or parts of the product range.”