Israeli company AFI Europe, owner of AFI Cotroceni mall in Bucharest, is building a 800 square-meter extension of the H&M store. In the extension the retailer will sell both clothes and home products from the H&M Home collection. AFI is already working on the new space.
“Following H&M’s results in AFI Cotroceni, it was decided to turn the store into a flagship one, so work started to extend the store, so that it can also accommodate the H&M Home collection.
Following this extension, which should be finalized by November this year, the area of the H&M store will increase from around 1,940 sq m to 2,800 sq m, according to data of AFI Europe, while the mall’s leasable area will near 80,000 sq m.
H&M representatives confirmed the space under construction at AFI Cotroceni will be used for an extension, but have not provided further details.
H&M has 25 stores in Romania and will open four more stores by the end of the year.
AFI Cotroceni is the largest investment of the Israeli group on the Romanian market, with the project’s sales amounting to EUR95.5 in the first half of this year.
H&M had sales of around EUR47.7 million in the first half of the company’s financial year (December 2012 – May 2013), according to the company’s latest report.