H&M may be moving into Romania

The Swedish clothing company H&M (Hennes&Mauritz) is in negotiations for the lease of retail spaces in Bucharest, and may be moving into the Romanian market as soon as next year or in 2012, according to real estate adviser Krammer & Wagner.

The real estate consultant Krammer & Wagner is known for spearheading the leasing negotiations for Militari Shopping Centre. It has also been appointed as leasing agent for Coresi Shopping City, developed by Centerra Capital Partners in Brasov and for Promenada Mall, developed by Raiffeisen evolution.

“For Promenada project, we were appointed as exclusive leasing agent in December 2009. For the time being, we are in negotiations with H&M, Decathlon and C&A. The mall has to be completed by end-2012, but I don’t think H&M will make its move into the market anytime sooner than 2011 when most of the project will have been completed”, Sorin Scurtu (photo), head of leasing and legal department of Krammer & Wagner.

Representatives of Raiffeisen evolution could not be contacted to confirm the information. Sources close to the issue said the clothing company was in negotiations with several shopping centers already delivered in Bucharest, such as Plaza Romania or Sun Plaza. Anchor Group, owner of Plaza Romania could not comment on the information.

“For Coresi, in Brasov, we’re in advanced talks with OBI and Kika, for the first phase of the project, and with C&A and H&M for the second phase”, Sorin Scurtu added.

When contacted by Wall-Street, representatives of Centerra Capital Partners denied rumors. “We are not in more advanced talks with OBI or Kika than with any other furniture or DIY retailer”, Centerra Capital Partners said, adding that it appointed Krammer & Wagner a year ago as the leasing agent for the project.

H&M has around 2,000 stores in 36 different countries and employs over 74,000 people. The company’s main market is Germany, followed by UK and Sweden.

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