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HomeReal Estate NewsFASHION HOUSE Pallady Phase 2 Opening in Q3 2024

FASHION HOUSE Pallady Phase 2 Opening in Q3 2024

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FASHION HOUSE Group has started construction on the second phase of FASHION HOUSE Pallady in eastern Bucharest.

With its grand opening scheduled for the third quarter of 2024, this expansion project is set to redefine shopping and leisure experiences in the area.

FASHION HOUSE Group, the mastermind behind the only two professional outlet centers in Romania, shares with us their strategy behind this new expansion.

Phase 2 Expansion Underway

The eagerly awaited phase 2 expansion of FASHION HOUSE Pallady will encompass an impressive 5,727 sqm, and the good news is that 53% of this space is already leased.

This development will see the inclusion of renowned brands like Guess, Tommy Hilfiger, Calvin Klein, Under Armour, Sport Vision, and many more. These esteemed brands are poised to elevate FASHION HOUSE Pallady into a highly sought-after destination for smart shopping and leisure in eastern Bucharest.

FASHION HOUSE Pallady: A Shopping Haven

Currently spanning approximately 8,000 sqm, phase 1 of FASHION HOUSE Pallady is already home to dozens of beloved brands, including Nike, BSB, Triumph, Lee Cooper, Ecco, Puma, Penti, Sizeer, Tom Tailor, and U.S. Polo Assn. In addition to these retail offerings, visitors can enjoy restaurants, cafes, and a dedicated children’s play area.

The expansion project is strategically located on Autostrada Soarelui, at kilometer 15, Cernica exit, bringing top-notch brands, affordability, and premium quality closer to customers.

Outlet Excellence Redefined

What sets FASHION HOUSE Pallady apart is its unique Outlet Centre concept, featuring open-air galleries and a distinctive architectural approach. This design creates a superlative shopping and leisure environment, promising an unforgettable experience for all visitors.

Impressive Performance Drives Expansion

The decision to expand FASHION HOUSE Pallady is reinforced by the exceptional performance of FASHION HOUSE Militari, another jewel in the brand’s portfolio. As of August 2023, both shopping centers have demonstrated remarkable growth compared to the same period in 2022.

FASHION HOUSE Militari boasts a 38% increase in sales and a 30% rise in foot traffic, while FASHION HOUSE Pallady has seen a 29% surge in sales and a 32% increase in foot traffic. These figures underscore the potential of the outlet business model even in challenging economic times.

A Vision for the Future

Brendon O’Reilly, Managing Director of the FASHION HOUSE Group, expressed confidence in their expansion strategy, saying:

Through the expansion of FASHION HOUSE Pallady in Bucharest, our latest venture in the capital and the seventh center of its kind developed by Liebrecht & wooD and FASHION HOUSE Group in Europe, we are taking a natural step in bolstering our presence within the local outlet market. Despite recent unconventional circumstances, this market has proven exceptionally appealing to consumers and exhibits a promising growth trajectory. With our discerning customers in mind—individuals who have become increasingly selective, prioritizing not only the quality of their purchases but also their affordability—we have curated an offering that aligns seamlessly with their desires.

He also highlighted their focus on diversifying the tenant mix: 

Our immediate objective is to cater to the diverse needs of our patrons through an enticing retail blend that includes robust international anchor brands as well as esteemed local labels. Moreover, we are committed to enhancing and diversifying our offerings within the lifestyle and leisure segments. These endeavors will be further fortified by our dedicated center team, which possesses unparalleled expertise within the Romanian retail landscape, complemented by our extensive 25-year experience in the outlet market.

Brendon concluded that the future looks bright for outlet centers in the retail market:

We harbor great confidence in FASHION HOUSE Outlet’s ability to attract and retain customers. The outstanding results achieved over the past two years underscore our firm footing on the commercial map of southeastern Romania. This further fuels our determination to provide a memorable shopping experience for all who step through the doors of our two centers in Romania

Premium Lifestyle Brands at Unbeatable Prices

The expansion of FASHION HOUSE Pallady has garnered support from renowned brands such as Guess, which is excited to open a new Guess Outlet store.

Daniel Moraru, General Manager of Unic Brands Romania (Guess partner), remarked:   

“We are eager to bring ourselves even closer to discerning buyers who seek premium lifestyle brands at accessible prices throughout the year. We eagerly anticipate the forthcoming opening of our new Guess outlet store at Fashion House Pallady. Our pride stems from our participation in this exceptional project, destined to become a landmark on Bucharest’s shopping center map. We look forward to celebrating the initial moments of success alongside the dedicated team involved in this endeavor.”

Unmatched Discounts at FASHION HOUSE Outlet Centre

FASHION HOUSE Outlet Centre in Bucharest, comprising FASHION HOUSE Militari and FASHION HOUSE Pallady, is where fashion-conscious shoppers can enjoy discounts ranging from 30% to 70% on an array of famous brands. This includes adidas, Boss, Puma, Nike, Tommy Hilfiger, Calvin Klein, Diesel, US Polo, Tom Tailor, Under Armour, Nike, Levi’s, Marc’O Polo, Guess, Samsonite, Ecco, Liu Jo, and Desigual.

As construction for FASHION HOUSE Pallady Phase 2 progresses, the future is promising for fashion-conscious consumers in eastern Bucharest. Keep an eye out for the grand opening in Q3 2024, and get ready to indulge in a world of premium brands at unbeatable prices.

About FASHION HOUSE Group

FASHION HOUSE Group (FHGR) is a leading player in the European outlet sector, with a strong presence in the CEE and Russian markets. They have a successful track record in designing, developing, financing, leasing, operating, and managing outlet centers.

FHGR, part of the Liebrecht & wooD Group, has delivered seven thriving FASHION HOUSE Outlet Centres in Poland, Romania, and Russia, offering over 250 international brands to more than 10 million customers annually.

More about Fashion House: www.fashionhouse.ro

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