Splurging and being budget conscious might seem like opposite concepts, but one company has managed throughout the years into marrying these paradoxes into a business model that is growing and attracting more and more brands and customers in Romania.
The outlet business outpost – FASHION HOUSE Group is consolidating its operations, announcing the expansion of its second outlet centre – FASHION HOUSE Outlet Centre Pallady in Bucharest.
The second outlet centre in Bucharest operated by FASHION HOUSE Group, and the only centre which was opened during COVID-19 pandemics, announces its expansion for phase two. The project has become in less than one year a landmark for south- eastern Bucharest, establishing with a unique retail mix of over 50 stores, a playground, restaurants, and café’s, a new “it-place” in town.
The second phase will enhance the retail mix with new anchors and will deliver extra 5,735 sqm GLA.
Due to its high accessibility and strategic location, within a 90 minutes’ drive radius, that goes beyond the borders of Bucharest, due to the A2 highway, FASHION HOUSE Centre Pallady has 3,160.000 people and 1,200.000 households in its catchment. And having Bucharest in core catchment is quite important because with over 2 million population and the largest GDP in Romania, the city is one of the largest capitals in Europe, having one of the lowest unemployment rates and its inhabitants brag with the largest net earnings in Romania.
Playing in market with a fast growth of fashion segment regardless of the turbulences that have dominated the global market, another jet engine propelling FASHION HOUSE Centre Pallady as a landmark is its unique architecture.
This one-of-a-kind open air shopping centre offers an unparalleled experience of a stroll in the Belle Epoque architecture of fin du siècle Bucharest. And this feature was a strong asset even during the pandemic, offering fresh air and outdoor meet-up spots that promote safety and health as most fashionable assets.
The expansion of our latest project in Bucharest proves the growth potential of the Romanian outlet market, which has recorded a boost even in these unprecedented times. This is fuelled especially now when consumers pay more and more attention to value for money. We will consolidate our retail mix with anchor brands, and we will focus also on diversifying our lifestyle and leisure offers. It is encouraging to see that so many prestigious brands have joined us in this new venture to deliver another successful retail experience in retail arena.
Moreover, FASHION HOUSE Group recorded an excellent performance in Romania with its first Outlet Centre, showcasing that all year-round brand, value, and partnership represent a unique approach appreciated by both tenants and customers.”, declared Mr. Brendon O’Reilly, Managing Director & Founder, FASHION HOUSE Group.
With a 45-million-euro investment, FASHIONHOUSEPalladyisthesecond outlet opened by FASHION HOUSE Group in Bucharest and has entered the Group’s portfolio as the fourth Outlet Centre currently managed by the company.
The project, which covers an area of nearly 14,000 square meters, was the first to open in mainland Europe in 2021 and includes over 50 stores, a playground, restaurants and over 300 parking spaces.
FASHION HOUSE Group is part of the Liebrecht & wooD Group, a real estate development company that has been active for thirty years in some of the most dynamic markets in the CEE Region. The company builds and manages a diverse range of properties such as Office and Residential buildings, Shopping and Outlet Centres as well as strategically positioned, state- of-the- art warehouses. Building construction being one of the group’s core businesses, it allows to be more flexible and develop quickly, as needed. This is one of the main reasons why the projects are being completed in record time and delivered precisely when the market needs them the most.