Swedish clothing retailer H&M is to open a store in Bucharest's Old Town, in a building which should be finalized sometime this autumn, according to Romanian daily Ziarul Financiar.

The store, on some 1,800 sqm, will be located on 30-34 Lipscani St., in a building currently under construction and owned by Alin Cocos, the son of Romanian businessman Dorin Cocos. The new H&M shop would be very close to its other store, in the Unirii Shopping Center, just off the Old Town.

Bucharest's Old Town has become the hot spot of the city in recent years, with over 100 restaurants, bars and coffee shops opened in the area, and with many buildings still awaiting renovation and new tenants.

H&M would be one of the few retailers in the Old Town, joining Adidas, which runs a two-story shop, and a group of old clothes shops selling anything from hats to wedding dresses.

H&M runs 23 stores in Romania and ended the 2012 fiscal year with sales of EUR 74 million in Romania.

editor@romania-insider.com