British retailer Marks & Spencer (M&S) announced that will shut down the doors of its small stores in AFI Cotroceni and Sun Plaza in January, February, but will open two new stores in other shopping centers in Bucharest.
Thus, in April, Marks & Spencer will inaugurate a store of 1,650 square meter in Mega Mall, in Eastern Bucharest and another unit with over 1,600 square meters will be opened in a shopping mall in the Capital also. According to the information on the real estate market is about Plaza Romania, Mediafax notes.
Further details regarding the openings will be announced after signing the lease contracts according to a press release from the retailer. When these investments will materialize, the total retail surface of Marks & Spencer on domestic market will increase by 30 percent.
Total workforce of the two stores will have the opportunity to move to existing stores in Bucharest, and as a result of these relocations, the number of employees is expected to grow by 20 percent by the end of this year. The British retailer is also planning on expanding one of the other two M&S units in Bucharest (Baneasa Shopping City and Bucharest Mall) by 500 square meters.
Marks & Spencer is present in Romania since 2000, and by the end of this spring will have a total of six stores, including four in Bucharest, one in Constanta and one in Iasi.