H&M to open new unit in Budapest
Swedish fast fashion retailer H&M is scheduled to open a store in the former Libri unit in Budapest-located Mammut II mall, Cushman & Wakefield, the real estate firm which secured the deal on the over 1,700 sqm retail space, said yesterday in a press release.
“It is an amazing success, and a strategic step that after a very long negotiation and remodeling of stores in the building, H&M decided to represent themselves in Mammut shopping center as well. We are confident, that the remodeled units and the refreshed tenant mix will serve customers better and will further enhance the joy of shopping in the building,” Viktória Szabó Partner, Head of Retail at Cushman & Wakefield Budapest said.
Lori Orosan, Expansion Manager at H&M added: “Opening a store in Mammut Shopping Center in Budapest is a very important step in H&M’s life in Hungary. After a long series of negotiations with the landlord we are happy with the transaction and we expect outstanding performance from this new store, very much in line with the country performance.”
Cushman & Wakefield represented H&M in the transaction, the press release said. H&M was founded in 1947 in Sweden, now it is present in 57 markets worldwide, and offers online shopping in 17 countries.
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