German fashion retailer Peek & Cloppenburg will open a flagship store in Iulius Town Timişoara (formerly named Openville), the first mixed-use project in the west of Romania, which integrates the current Iulius Mall.

The new Peek & Cloppenburg unit will be a regional flagship store. It will have a sales area of approximately 3,600 sqm and will be laid out on two levels in the new building block representing the Iulius Mall’s expansion wing. Peek & Cloppenburg currently has six other stores in Romania.

“We see great potential in this market for the future and therefore it was natural to intensify our activities here,” said Paul Pörtner, Director Retail Management at Peek & Cloppenburg. “We are very pleased that we have developed successfully since our start in Romania and look forward to opening our new store in Iulius Town Timişoara.”

Iulius Town, developed by local investor Iulian Dascalu (Iulius Group) and Atterbury Europe, is the largest real estate investment in the region, adding up to more than EUR 220 million. Its first development phase is currently pending completion and will include the largest retail area outside Bucharest, adding up to approximately 120,000 sqm.

editor@romania-insider.com

(Photo source: Shutterstock)