International fashion outlet developer, FASHION HOUSE Group has officially opened its doors to a €25M new outlet centre in the east of Bucharest, the Group’s second outlet centre in Romania’s capital.
As the first new outlet centre to open on mainland Europe this year, FASHION HOUSE Pallady spans over 12,000 sqm accommodating 62 stores, a children’s play area and restaurants. More than 100 new jobs have been created through the opening of the first phase. The second and final phase will commence development in 2022.
Visitors to Bucharest’s newest shopping destination can access everyday discounts of up to 70 per cent off some of the world’s leading fashion brands including Puma, Killtec, Tom Tailor, Lee Cooper, Triumph, Otter, Sizeer, Ecco, Colin’s, US Polo Assn and many others.
With an open-air gallery, FASHION HOUSE Pallady features a design concept inspired by Bucharest’s Belle Époque architecture with bohemian streets for customers to enjoy shopping and natural sunlight.
Situated at the exit to the A2 Cernica motorway, 25 minutes from the city centre and 45 minutes from Henri Coanda International, FASHION HOUSE Pallady is easily accessible to the City’s two million residents as well as its growing tourism market with parking provision for more than 300 vehicles.
In the current context of the tough economic conditions impacting retail markets globally, the opening of a new outlet centre marks a significant investment by FASHION HOUSE Group in Bucharest’s economy and a vote of confidence in the city’s retail prospects. Romania was one of the few EU countries to see a GDP rise in the first quarter of 2020. The country’s GDP increased by 0.3 per cent compared to the previous quarter and was up 2.4 per cent against the first quarter of 2019 (National Institute of Statistics).
FASHION HOUSE Pallady is the seventh outlet centre developed by FASHION HOUSE Group in CEE and Russia, and the second in Romania’s capital. The first outlet centre, which opened over 12 years ago in 2008, is located on the western side of Bucharest, in Militari. The success of the FASHION HOUSE concept has been based on building long-term relationships with more than 250 international and local fashion brands, with a strict pricing policing ensuring consumers are offered all year round discounts of up to 70 per cent.
Pallady, designed by renowned Romanian architects DMA, is the first major part of a much larger retail and leisure park under development by Liebrecht & Wood Group, with the aim of becoming Romania’s ‘Number One’ shopping and leisure destination.
“The opening of FASHION HOUSE Outlet Centre, Pallady, at a time when retail markets are struggling to recover from the impacts of the pandemic, is a significant investment by FASHION HOUSE Group in Romania’s economy. We are confident in the fundamentals of the outlet centre market and committed to meeting a growing consumer demand for quality brands at affordable prices. Our partner brands also see the value of this model, snapping up more than 75% of available space prior to opening. Operating within Bucharest’s competitive retail fashion market, we are confident that FASHION HOUSE Outlet Centre, Pallady will become one of the Capital’s premier shopping destinations”, said Brendon O’Reilly, managing director, FASHION HOUSE Group.