30m-euro investment in clothing outlet

A shopping centre, located 21 kilometres away from the capital city on the Bucharest-Pitesti highway, is expected to be built by the end of the year, and will include over 50 stores, as well as the first multi-brand outlet. The market of shopping centres has seen fast-paced growth in the last few years. The project named Escape Outlet Shopping Center is the first project developed on the local market by Greek-owned company American Outlet Overseas. The shopping centre will consist of 55 to 75 stores, depending on the amount of space requested by the tenants and will entail a total investment of around 30 million euros. “This outlet will be the same as other stores in Europe that are outside the city. We don’t want to compare ourselves with the current malls in Bucharest, so we will focus on clothing retail and not hypermarkets,” says George Sigalas, chairman of the company. Such outlets sell excess products coming from factories, or products that were not sold in regular stores, and are often grouped together in multi-brand outlets in other European cities.