Money Buzz! Europa

Category: Retail

  • Fielmann enters Slovenian market, after the acquisition of Optika Clarus

    Fielmann acquires a 70% equity ownership stake in Optika Clarus, thereby adding the 14th European market in which the Group operates 
    stores. The transaction is effective as of September 1, 2019. Both parties agreed to keep the financial terms of the transaction confidential.

    With 26 optical stores and a unit market share of 30% Optika Clarus 
    is the undisputed market leader in Slovenia. Within the Fielmann 
    Group Slovenia is the country with the highest purchasing power (GDP 
    per capita: 22.000 EUR) east of the Group’s Core Markets.

    „Fielmann shapes the optical industry in Europe to the benefit of customers. With Optika Clarus we not only invest in the Slovenian market leader but also in a strictly customer-oriented business. With fashionable eyewear at the best prices, outstanding service and our digital capabilities we will transform the market to the benefit of Slovenian customers. In the long-term we plan to sell more than 100.000 glasses in Slovenia. This is a decisive step in our  internationalisation as defined in the Vision 2025”, says Marc Fielmann, CEO of Fielmann AG. „Until 2025 Fielmann is going to enter another four new markets through organic expansion and acquisitions”

    Tihomir Krstic, founder of Optika Clarus, retains a 30% equity stake 
    and remains involved in the business: „The digitisation and the internationalisation are the two key developments affecting our industry. With Fielmann Optika Clarus not only gains access to an international supply chain and a superior omnichannel business model but also wins a family business with values as a strategic partner. I am looking forward to growing Optika Clarus’ market leadership in Slovenia together with Fielmann.”

    In 2019 Optika Clarus plans to open two new stores in Slovenia. In the mid-term the company plans to operate more than 30 stores across Slovenia.

    About Fielmann

    Fielmann stands for fashionable eyewear at fair prices. The stock-listed family business operates 742 stores, serves more than 24 million customers across 14 countries. In Germany the company sells every second pair. Fielmann covers the whole value chain of the optical industry, is designer, manufacturer and optical retailer.

    About Optika Clarus

    In 1989 Tihomir Krstic founded his first optical store with a special focus on children. Through fashionable, high-quality eyewear Optika Clarus became the market leader in Slovenia. Today Optika Clarus delivers services at the highest level to 250,000 customers in 26 stores across Slovenia. 

  • Developers will accelerate mall openings in the second half of the year

    Deliveries of commercial spaces will accelerate in the second half of the year, when approximately 150,000 square meters will be delivered in several cities in the country with new deliveries in Bucharest amounting for 35,000 square meters, according to H1 Romania Retail MarketBeat report, realized by the real estate consulting company Cushman & Wakefield Echinox.

    In the first semester of 2019, two extensions of existing shopping centers were completed: Sibiu Shopping City and Tom Shopping Center in Constanța, We also attended the opening of the second IKEA store in Romania in Bucharest, a store that covers an area of ​​about 37,000 square meters, the largest in Southeast Europe.

    The total stock of modern retail spaces in Romania is 3.74 million square meters, with a density of 192 sqm / 1,000 inhabitants. In terms of area of ​​shopping malls, retail parks and commercial galleries in Bucharest, they measure 1.19 million square meters, with a density of 651 sqm / 1,000 inhabitants, 3.5 times higher than the national average.

    New centers in Sibiu and Zalau

    The largest project to be delivered this year is the Festival Centrum in Sibiu, a commercial center developed by NEPI Rockcastle, which will have a rentable area of ​​42,000 square meters.

    Also delivered will be the extension of Iulius Mall Timisoara, part of the joint project Iulius Town developed in partnership by Iulius Group and Atterbury. Thus, Iulius Mall will become the largest modern retail project in Romania and will have a rentable area of ​​over 100,000 sqm. Part of this extension has already been inaugurated, the Inditex group taking over spaces with an area of ​​about 8,000 square meters in a new wing of the mall.

    Other cities that will benefit from new modern retail spaces are Zalău, where Prime Kapital will deliver the Zalău Value Center project, Satu Mare (the extension of the project developed by Auchan) or Buzau (the extension of Buzau Shopping City, the former Aurora Mall).

    What about Bucharest?

    Regarding Bucharest, it is expected the completion of the retail park DN1 Value Center developed by Prime Kapital (28,500 square meters), a project that marks the extension of the retail area of ​​the city to the north, to Balotești, the modern retail stock will also be increased by completion of the Veranda Mall extension (7,000 square meters).

    Next year, the expansion of the Colosseum shopping center in the northwestern part of the Capital is planned, which will increase its attractiveness by accommodating new tenants from the fashion (New Yorker, Colin’s, CCC), leisure (World Class), F&B (Gregory’s, Cafe Ritazza) and entertainment (Happy Cinema).

    How big is the rent?

    The headline rent of a space of 100 square meters located in a dominant commercial center in Bucharest reaches the level of 80-100 € / sqm / month, while in similar projects in the main regional cities, such as Timișoara, Iași or Cluj, the rent for such spaces it reaches values ​​of 37-42 € / sqm / month, respectively 28-33 € sqm / month for the same spaces in secondary cities.

  • The modern retail stock in Bucharest is higher than in Transylvania

    The modern retail stock in Bucharest remained stable in 2018, at 1.2 million square meters, a level which is 7% higher than in the Central-West region of the country (16 counties in Transylvania and Banat areas), which reached 1.18 million square meters, and twice the corresponding value of the Moldova region (eight counties), which reached 595,000 square meters, according to the Bucharest Retail Market and Romania Retail Regional Cities reports released by the Cushman & Wakefield Echinox real estate consultancy firm.

    Another analyzed region is the South one (16 counties, excluding Bucharest – Ilfov), where the modern retail stock is of 735,000 square meters, therefore the total area of ​​all the retail projects (shopping centers, retail parks and commercial galleries) at the national level is situated at 3.71 million square meters, resulting in a density of 191 square meters / 1,000 inhabitants.

    If we take into account the projects currently under construction, we expect the deliveries of commercial spaces to accelerate this year up to 140,000 square meters, as Sibiu, Timisoara and Bucharest will attract a 70% share of these deliveries. The Festival Centrum shopping center and the extension of Shopping City Sibiu will be delivered in Sibiu, the Iulius Mall project will be expanded in Timisoara, while the extensions of the Colosseum Retail Park and Veranda Mall projects are expected in Bucharest. New modern retail spaces will also be delivered in Zalau, where the Zalau Value Center project is due to be inaugurated, and also in Satu Mare and Buzau, where two existing projects will be extended.

    In 2019, the most active developers will be NEPI Rockcastle, Iulius Group and Prime Kapital, three of the most important developers and owners of commercial spaces on the local market.

    Last year, new retail projects with a cumulative area of ​​approximately 104,000 square meters have been delivered in Romania, with no new retail project being completed in Bucharest.

    At a city-based level, the highest retail space density can be found in Suceava (1,167 sq m / 1,000 inhabitants) and Oradea (1,014 sq m / 1,000 inhabitants), while in the primary cities with a population of over 250,000 inhabitants, this indicator varies between 380 sqm / 1,000 inhabitants in Craiova and 692 sq m / 1,000 inhabitants in Timisoara.

    The average vacancy rate for shopping centers in Bucharest declined from 3% to 2% over the past year, while at a regional level this value is situated at around 4% in the Southern and Eastern areas and 6% in the Central-Western part of the country. It is thus expected that the low vacancy rates within the dominant shopping centers will put pressure on rent levels.

  • Inditex net sales rise 3%, topping €26 billion for the first time

    Inditex Group’s net sales rose by 3% in FY18 (1 February 2018 – 31 January 2019) to an all-time high of €26.14 billion, underpinned by growth in all of the Group’s geographic regions. 

    Revenue from online sales increased by 27% to €3.2 billion, accounting for 14% of sales in markets with stores and online net profit rose 2% to €3.44 billion, or 12% in local currencies, while EBITDA and EBIT reached all-time highs, supported by strong margins.

    Net profit rose 2% to €3.44 billion, or 12% in local currencies.

    The Board of Directors will propose a new dividend policy at the next AGM, to be held in July. The ordinary dividend will increase to represent a payout ratio of 60% – up from 50% at present – and Inditex will also distribute a bonus dividend totalling €1 per share, split across 2019, 2020 and 2021.

    The change in policy translates to a 17% increase in the dividend for the year to €0.88 per share; €0.66 as an ordinary dividend and €0.22 as a bonus dividend.

  • Women’s Day brings top of sales to the flower business

    Flower businesses register these days the highest sales of the year. On 8 March, over 10 million Romanians celebrate “Women’s Day”.

    Metro offers 1,500 euros to girls born today (March 8) in Bucharest

    Topshop Topman Bucharest Mall will be opened on March 15th

    KiK opened its first store in Bucharest in Bucur Retail Park

    Orange Money launches the Visa debit card

  • NEPI Rockcastle real estate properties reached a value of 5.9 billion euros

    The total value of the portfolio of real estate owned by NEPI Rockcastle exceeded 5.9 billion euros at the end of 2018, according to the company’s latest report, 20% higher than at the end of the previous year.

    Sphera Franchise Group‘s profit rose by 4.5% in 2018

    AFI City offers furnished and equipped kitchens worth 3,000 euros

    Decathlon opens a store in Shopping City Deva

    The minimum wage at Kaufland is 3,300 lei gross