The expansion project in phase 2 will cover an area of 5,727 sq m, of which 53% is already leased, and will benefit from the presence of renowned brands such as Guess, Tommy Hilfiger, Calvin Klein, Under Armour or Sport Vision and others, which will transform FASHION HOUSE Pallady into one of the most sought-after smart shopping and leisure destinations in eastern Bucharest.
FASHION HOUSE Pallady currently operates on an area of approximately 8,000 sq m, phase 1 hosting dozens of stores of famous brands such as Nike, BSB, Triumph, Lee Cooper, Ecco, Puma, Penti, Sizeer, Tom Tailor or U.S. Polo Assn, restaurants, cafes, and a children’s play area. The expansion of the Centre which is in the eastern part of Bucharest, on Autostrada Soarelui, at kilometer 15, Cernica exit, strengthens the local presence of FASHION HOUSE Romania and brings top brands, affordable prices and premium quality items even closer to customers. but also, the unique Outlet Centre concept with open-air galleries and distinctive architectural approach, offering a superlative shopping and leisure experience.
The expansion of the Centre is also supported by the extremely favorable performance of FASHION HOUSE Militari, which exceeded its achievements from quarter to quarter. Thus, at the end of August 2023, the two shopping centers recorded remarkable figures compared to the same period in 2022, FASHION HOUSE Militari marking a 38% increase in sales and 30% in traffic, while FASHION HOUSE Pallady sales have increased by 29%, and traffic by 32%. These high percentages, which are due to the efforts of an exceptional team of professionals from the domestic retail market, complement the extraordinary results obtained throughout the year 2022, and once again underline the great potential of this business model, even in difficult economic contexts.
“Through this expansion of FASHION HOUSE Pallady in Bucharest, our latest project in the capital and the seventh center of this type developed by Liebrecht & wood and FASHION HOUSE Group in Europe, we are taking a natural step in strengthening our presence on the local outlet market, which, despite the recent atypical years, has managed to remain extremely attractive to consumers and has an increasingly visible growth perspective. Our immediate plan is to meet the needs of buyers through an extremely attractive retail mix, in which they will be present both strong international anchor brands and prestigious local brands, but also by highlighting and diversifying the offers in the lifestyle and leisure area. All efforts will be strengthened by the Center’s dedicated team, which has the highest and most complete expertise in the field in Romania, but also by our general experience of over 25 years in the outlet market,“ said Brendon O’Reilly, Managing Director of the FASHION HOUSE Group.
“The solid partnership and favorable business experience of FASHION HOUSE Militari convinced us to develop our presence in the outlet area by opening a new Guess Outlet store, this time in FAHION HOUSE Outlet Centre Pallady. We want to be even closer to the buyers who appreciate and want premium lifestyle brands at affordable prices all year round and we look forward to the opening next year. We are proud that we will be part of a unique project, a landmark on the map of shopping centers in Bucharest, and we look forward to celebrating together with the team involved in this project, the first moments of success” – adds Daniel Moraru, General Manager Unic Brands Romania.