Retailers start saying no to mall projects

ROMANIA – Apparel and footwear retailers, which until last year saw any announced mall project as “a hard to reject opportunity”, are seeing themselves forced to change their strategy.

For the first time after the retail boom, storeowners are cancelling pre-contracts sealed with mall developers.

Otter Distribution, the distributor of Otter, Fila or Geox brands domestically, has recently announced it gave up its plan regarding expansion outside Bucharest, amid the financial crisis and implicitly a shopping reluctance.

Otter will open stores only in the shopping centres with which it has already signed contracts, namely Militari Shopping Center and Grand Arena, both in Bucharest.


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