Sofia, 7 November 2011. International retail giant Hennes & Mauritz AB (H&M) will open their second store in Varna, Bulgaria’s second largest city. Colliers International, exclusive leasing consultant for Grand Mall where H&M have leased the space, facilitated the 2,200 sqm deal.
“The new lease agreement will bring occupancy up to 77% in Grand Mall”, commented Steven Cleaver, Mall Manager, Colliers International. “The debut of one of the most sought after brands in Bulgaria will further expand the exciting fashion tenant mix in our shopping center”.
“We are proud to have helped H&M expand their presence in Bulgaria”, said Iglika Yordanova, Manager, Retail Services for Colliers International in Bulgaria. “This transaction is a clear indication of the confidence international retailers have in the Bulgarian market and the ability for well positioned shopping centers like Grand Mall to attract top brands”.
H&M’s entry in Bulgaria is part of the company’s expansion plans in southeast Europe. Last year the second largest clothing retailer in the world, established in 1947 in Sweden, expanded into Turkey and Romania. Today H&M operates around 2,200 stores spread over 41 markets.