Bucharest ranks 30th among the most attractive European locations for international retailers, the ranking being led by London, according to a recent cross-border retailer index compiled by JLL.
“Destination Europe 2015 study places Bucharest on the 30th place among the most attractive cities in terms of the interest of international retailers for expansion outside their home country. It is considered a city with high growth potential and is ahead of cities in the region such as Bratislava, Zagreb, Belgrade and Ankara and at very short distance behind Budapest. The top is led by London, followed by Paris and Moscow,” said Carmen Ravon, Head of Retail Agency at JLL in Romania.
When it comes to the origin of brands that are expanding in Europe, the US comes first – with brands like Tommy Hilfiger, Timberland, Foot Locker, Claire’s and Starbucks, followed by Italy, the UK, Germany, France and Spain. In terms of retail coverage, Zara and H&M are present in all the 57 key countries under analysis, including Romania, according to Ravon.
When it comes to luxury brands, Romania is at number 25 in terms of their interest to have stores in Romania. “The top includes retailers that are already present but also those with potential to enter Romania with mono-brand stores: Louis Vuitton, Max Mara, Emporio Armani, Gucci, Mont Blanc, Hermes, Burberry, Cartier, Longshamp, Chanel, Prada,” said Carmen Ravon.
“As a conclusion, given the encouraging predictions related to the medium-term sales growth in CEE, including Romania, we have witnessed an increase of the number of new international brands entering the market in the last two years, whether they came directly or through a franchise. We are now discussing with other mass-market retailers, or from luxury and food sectors, that are considering expanding in Romania in 2015-2016,” she added.
The index, launched in a new report entitled Destination Europe 2015, analyses the expansion and presence of 250 international retailers across 57 key retail markets.
Multi Corporation has completed the refurbishment of Allee Center in Budapest, enhancing the interior and exterior design, and leading to an improved customer experience. The entire renovation cost amounted...