Money Buzz! Europa

Category: Retail

  • The stock of modern retail spaces in Romania has exceeded 4 million sq m

    The stock of modern retail spaces in Romania has exceeded 4 million sq m

    The stock of modern retail spaces in Romania has exceeded the level of 4 million square meters after the latest deliveries of shopping centers, but the market development pace will slow down in the next period, according to real estate consulting company Cushman & Wakefield Echinox.

    In the last three months, two important projects have been completed: Dâmbovița Mall, the first modern shopping center in Târgoviște, developed by Prime Kapital and MAS Real Estate and AFI Palace Brașov, part of a mixed project that also includes office spaces.

    Analysed based on its components, the shopping center has a leasable area of ​​45.000 sqm, while the first stage of the office project has 15.000 sqm.

    As a result of these deliveries, the total stock of modern retail spaces in Romania reached 4.03 million square meters, reflecting an average density of 200 sqm / 1.000 inhabitants.

    The stock includes shopping centers (57% of spaces), retail parks (36%) and shopping galleries (7%).

    The most important projects currently under construction and whose delivery is planned for 2021 are the expansion of the Colosseum shopping center in the northwest part of the Capital, the first phase of the Fashion House Outlet Center Pallady outlet mall developed by Liebrecht & wooD and Sepsi Value Center in Sfântu Gheorghe, these three projects totaling a leasable area of ​​about 40.000 square meters.

  • 200 million euros invested in 2020 by Austrian retailer XXXLutz

    200 million euros invested in 2020 by Austrian retailer XXXLutz

    2020 is a record year in terms of investments for XXXLutz. 200 million euros were invested and more than 30 furniture stores were opened.

    In Austria, two new furniture stores will follow this autumn (Mömax in Eugendorf, Möbelix in Nenzing), in addition to redevelopments in Eugendorf (a total investment of 38 million euros), and in Lauterach (18 million euros).

    In addition, 72 million euros were invested in a new central warehouse in Zurndorf.

    In Germany, the new XXXLutz warehouse in Amt Wachsenburg went into operation in mid-September after an investment of more than 100 million euros in 2019 and 2020.

    In addition, more than 30 million euros were invested in the expansion of the various online shops in 2020.

    Two weeks ago, XXXLutz opened six new furniture stores in Hungary, after the rebranding of six former Kika stores acquired last year. These stores are in Budaörs, Györ, Pecs, Debrecen and two in Budapest.

    Marking its 75years anniversary this year, XXXLutz Group has more than 320 furniture stores in 13 European countries (Austria, Germany, Czechia, Hungary, Slovenia, Slovakia, Croatia, Romania, Bulgaria, Switzerland, Sweden, Serbia and Poland) and employs more than 25.700 people.

  • C&A fully compensates apparel suppliers for all pre-corona orders

    C&A fully compensates apparel suppliers for all pre-corona orders

    C&A has ensured 100% compensation for all orders previously put on hold and has been placing new orders despite the economic headwinds the fashion industry is facing across Europe.

    C&A guarantees payment of all pre-corona orders that were in shipment, already produced or in production, at the original price and according to agreed payment terms. 

    In addition, suppliers are compensated for all pre-corona orders for which production had not yet started, either financially or by placing new orders utilizing raw materials that had already been purchased.

    This way, C&A has ensured compensation of its suppliers for all orders that had been put on hold at the beginning of the crisis as a precautionary measure in the face of the complete shutdown of all of the company’s 1.400 stores across Europe.

    Furthermore, many suppliers are supported through C&A’s supplier finance system in cooperation with the company’s partner bank.

  • CCC e-commerce revenue up 61% in Q3 2020

    CCC e-commerce revenue up 61% in Q3 2020

    CCC Group closed Q3 2020 with overall revenue growth of 8% and a surge in e-commerce revenue (up 61%).

    Eobuwie remains the driving engine of online sales at the CCC Group, but the contribution from other platforms to total revenue (23%) is on the rise. In the third quarter, the share of CCC.eu in the Group’s e-commerce revenue grew to 11% (from 3% a year earlier).

    CCC to close 108 stores by the end of this year

    CCC wants to significantly downscale its initial targets for retail space expansion (only +9 thousand m2 at the end of Q3 from the year’s beginning vs the initial plans of +60 thousand m2).

    By the end of this year, the CCC Group will also close down a total of 108 stores.

  • BOX food delivery service, partnership with two supermarket chains

    BOX food delivery service, partnership with two supermarket chains

    BOX, Cosmote’s online food delivery service,announces partnership with the Masoutis and Kritikos supermarket chains, offering consumers the option to order all of the products of both supermarkets in a total of over 50 cities across Greece.

    BOX online delivery service, in partnership with the Masoutis supermarket chain, is available in 45 Greek cities, including Athens, Thessaloniki, Ioannina, Larisa, Alexandroupoli, Xanthi, Trikala and Mytilene.

    Consumers can choose from over 10.000 products and have their purchases delivered to their homes, on the day and time of their choice, even within 2 or 3 hours. The minimum order is €40.

    BOX’s partnership with Kritikos is available in most regions and in the largest cities in Greece (Athens, Thessaloniki, Larisa, Heraklion-Crete, Chalkida, Corinth, Rhodes and more).

    Users can take delivery of their shopping on the same day through the ”Kritikos easy” service (€50 minimum order), or even within an hour with the ”Kritikos express” service (€5 minimum order).

    BOX customers can order food and coffee from over 5.000 stores in 33 cities throughout Greece.

  • Amazon launched a website for Swedish customers

    Amazon launched a website for Swedish customers

    Amazon launched a website for customers in Sweden, adding it to the list of countries where it offers full services, according to DPA, MarketWatch and Reuters.

    Amazon offers Swedish customers over 150 million products, including tens of thousands of products from local companies.

    Until now, Swedes could shop at Amazon through sites in other European countries, including the United Kingdom and Germany, but delivery costs were higher.

    Amazon Sweden features images of famous Scandinavian buildings, including Stockholm City Hall and Turning Torso, a skyscraper in Malmo.

    Last week, the American giant announced that it would invest in a renewable energy project in western Sweden, to supply energy for its local data centers.

  • Spanish outlet chain El Grupo Numero 1 enters Romanian market

    Spanish outlet chain El Grupo Numero 1 enters Romanian market

    P3 Logistic Parks announces the signing of a new lease with the local subsidiary of the international group El Grupo Número 1.

    The new tenant will occupy 3.000 square meters of logistics and office space in P3 Bucharest A1. The transaction was brokered by Dunwell Industrial Brokerage.

    Thus, El Grupo Número 1, the largest multi-brand franchiser in the Canary Archipelago, Spain is entering the local market with several street shops and shopping centre locations, where they will sell past years’ collections labeled by renowned international manufactures.

    With a total surface of 380.000 square meters, 14 warehouses and a plot of land that allows the development of some additional 100.000 square meters of logistics space, P3 Bucharest A1 is the most complex industrial park in the capital city.

  • BAUHAUS to give full-time employees a 350 euros net ”Covid 19 bonus”

    BAUHAUS to give full-time employees a 350 euros net ”Covid 19 bonus”

    For their ”extraordinary commitment” in the Corona crisis, BAUHAUS will give to employees a 350 euros net ”Covid 19 bonus”, Heute reports.

    ”Many employees at BAUHAUS have faced particular challenges since the covid-19 pandemic started, whether professionally or privately,” says a company statement. ”Stress resistance, empathy and flexibility were particularly required in order to be able to react to the changing restrictions on the one hand and to the changes in customer behaviour on the other.”

    In addition, there was a mandatory mask rule and many other measures to minimize the risk of contagion for customers and employees.

    Last but not least, many employees also faced unexpected challenges in their private life.

    Therefore, every full-time BAUHAUS employee will receive an extraordinary ”Covid 19 bonus” of 350 euros net.

  • Miniso opens first store in Paris, in chic District 8

    Miniso opens first store in Paris, in chic District 8

    Miniso opened its inaugural outlet in Paris. It is the first store to open in Europe since the company’s listing on the New York Stock Exchange.

    Two more store openings are planned in France for this year, and Miniso aims to open additional locations in 2021.

    The retailer offers around 2.000 goods ranging from creative home necessities, health and beauty products, fashion accessories and stylish gifts to office supplies, boutique package decorations, digital accessories, as well as food and seasonal products.

    Located on 58 Rue de la Chaussée-d’Antin, Miniso’s new store is within walking distance of Paris’ luxury stores, and offers more than 80% of its products priced at under 10 euros.

    Since opening its first store in Guangzhou in 2013, Miniso has opened more than 4.200 stores in over 80 countries

  • GAP is considering closing stores in UK, France, Ireland and Italy

    GAP is considering closing stores in UK, France, Ireland and Italy

    US clothing retailer GAP Inc is considering closing stores in some European countries amid declining sales caused by the coronavirus pandemic (COVID-19) and increased competition, Reuters reports.

    The company, which has 129 GAP stores in Europe, announced on Tuesday that among the options explored is the possible closure of units in the UK, France, Ireland and Italy, by mid-2021.

    As part of the restructuring plan, the company had previously announced plans to close more than 225 unprofitable GAP and Banana Republic stores globally.

    However, the online sales of the Old Navy and Athleta brands, owned by GAP Inc, have increased since the beginning of the pandemic.

  • AFI Brasov shopping center unit opened today

    AFI Brasov shopping center unit opened today

    AFI Brasov brings together a mix between a modern shopping center developed on 3 floors, with 45.000 sqm GLA and A Class modern offices with total 15.000 sqm GLA rising above the mall.

    AFI Brasov offers its visitors over 150 fashion and beauty international brands, as well as local famous brands, playgrounds, fitness centre, entertainment, banks, pharmacies and an Carrefour hypermarket on a gross area of 6.500 sqm.

    The visitors can enjoy a 3.500 sqm green terrace, with a unique view overlooking Mount Tampa.

    ”Opening a mall is always a challenge and during this period the challenge was even bigger. AFI Brasov is our largest development completed this year, with a total investment of EUR 148 Million”, said Doron Klein, CEO AFI Europe Romania & Czech Republic.

  • Auchan sells its stake in Chinese food retailer Sun Art to Alibaba

    Auchan sells its stake in Chinese food retailer Sun Art to Alibaba

    Auchan accepted Alibaba’s proposal to acquire its entire stake in Sun Art (484 hypermarkets, 150.000 employees, largest market share for food in China).

    The transaction will be carried out at the equivalent price of HKD 8.10 per share, which will be the basis for a public takeover bid.

    On 20 November 2017, Alibaba, Auchan and Ruentex Group announced a strategic alliance that brings together online and offline expertise to explore new retail opportunities in China’s food retail sector.

    As part of this strategic alliance, Auchan obtained an indirect stake of approximately 36.18%, and Alibaba invested a toal of approximately HK$22.4 billion to obtain an aggregate direct and indirect stake of approximately 36.17% in Sun Art Retail Group Limited.