Unirea set to open 6 H&M and Inditex stores in two months, after 10% turnover drop

Europe’s biggest apparel retailers, H&M and Inditex, are going to open six stores in Unirea shopping centres of Bucharest and Brașov, controlled by Adamescu family, by late April.
The centres, operated through Unirea Shopping Center company, last year generated revenues worth 86.5m lei (20.5m euros), down 10%, according to the data the company’s representatives sent ZF.
Adamescu family and businesspeople Gabriel Popoviciu (Băneasa Shopping City) and Iulian Dascălu (Iulius Mall) are the only Romanian investors annually deriving revenues worth above 20m euros from shopping centre operations, a business that has contracted in recent years amid the crisis and dwindling consumption appetite.
Unirea Shopping Center reached 1.4m-euro gross income last year, according to company data.
To better adapt to market conditions, where real estate developers are coming up with modern malls and international tenants, 10% of the spaces in Bucharest and Brașov Unirea projects, namely around 6,000 square metres, are currently being fitted out for the opening of the 6 stores to be operated by Inditex and H&M, with annual turnover worth above 10bn euros each.