Bucharest, among first choices for new retailers entering the CEE market

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Bucharest has attracted more than 20 new retailers from all around the world in its biggest shopping centers, sharing the first place with Prague in a top of CEE cities which attracted new retail investments. According to a CBRE analysis, about 80 new retailers have entered CEE markets, with lots of projects and commercial developers seeking for new investments.

Both Bucharest and Prague attracted about 22 new brands each, which puts the two capitals on the first place in the region The retailers opened last year over 85 new stores, half of these being commercial chains from Italy, US or UK.

“Retail spend in core-CEE went up by 6.6 percent in 2016 and the growth rates are still substantially above Western European levels. (…) Romania has the second largest population within CEE and -in addition to its capital Bucharest-  some cities with more than 300,000 inhabitants. In combination with the remarkable growth rates derived from continuously increasing spending power these facts will keep attracting new retailers to the Romanian market”, said Walter Woelfler, Head of Retail, CBRE CEE, recently visiting Bucharest for CEE Retail Days event, held for the first time in Romania. 

CBRE data reveals that 34 percent of the total are luxury brands and about 13 percent is represented by café’s or restaurants. Retailers like Forever 21, Uterque, 4F, O bag, US polo, COS, Skechers, Tezenis or NYX are just a few examples of brands extending their activity in CEE and also in Romania.

Bucharest is generating more interest for international brands than other big European cities, like Berlin or Madrid, where Romania’s capital attracted more than 22 new retailers. London (65), Paris (36) or Moscow (33) are the European capitals which attracted the most retailers in 2016.

Romanian economy was influenced by the consumption growth, so retail was one of the Real Estate sectors to see a substantial evolution with commercial operators reporting very good sales.

The evolution and positive forecast for Romania convinced new retailers to enter local market. Stradivarius Man opened a store in ParkLake Shopping Center, Spanish Uterque and French Longchamp retailers went in Baneasa Shopping City with a unit, while Nanos, a fashion retailer for kids, opened a store in Promenada Mall.

Mexican food chain Taco Bell opened their first restaurant from Romania and in the region, while Under Armour or Nine West do prepare new stores for their expansion plans in our country.

More and more companies have been seeking for expansion, with brands like Tesla, Bolia, Hema, Pamers, Kiko, Scalpers or TK Mass looking for investments in CEE region.

“Owners and shopping center developers have invested more and more in new food court concepts. This is the reason why Romania is part of a refurbishment and redevelopment strategy and why this is becoming a necessity for Millennials and Generation Z”, Luiza Moraru, Head of Asset&Retail Services, CBRE said.

 

 

 

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