Forever 21 Opening in Romania With Franchisee
Forever 21, the Los Angeles–based fast-fashion retailer, is hoping to open its first store in Bucharest, Romania, by this fall.
The new 17,200-square-foot store encompassing two floors will be located in ParkLane, a new commercial center opening soon in the capital city.
Previously, Forever 21 signed a licensing deal with Teren Management Europe to be the exclusive franchisee of the Forever 21 brand in nine countries. Teren Management is responsible for the retailer’s expansion in Central and Eastern Europe, especially in Bulgaria, Poland, Romania, Greece, the Czech Republic, Hungary and Slovakia as well as Switzerland and Portugal.
In Poland earlier this year, Teren Management signed a deal with Cushman & Wakefield to provide market advisory services and look for new store locations.
By the end of this year, Teren Management expects to open Forever 21 stores in the Czech Republic, Poland, Portugal, Romania and Slovakia.
According to the Forever 21 website, the fashion retailer, started by the Chang family in 1984, hopes to become an $8 billion company by 2017.
The average Forever 21 store is 38,000 square feet and the largest is approximately 162,000 square feet. The company operates more than 730 stores in 43 countries.
