BUCHAREST (Romania), July 5 (SeeNews) - Marks & Spencer said on Friday that Voici La Mode, its exclusive franchise partner in Romania, has signed a partnership with Iulius Town Timisoara project, where it will open the first Marks & Spencer store in the city following a 1.5 million euro ($1.69 million) investment.
The new store is scheduled to open this autumn in Iulius Mall shopping centre, which is part of Iulius Town Timisoara mixed-use project, Marks & Spencer said in a press release on Friday.
The store will spread on over 1,000 sq m and will employ 17. It will include all clothing divisions: women, men, children, lingerie clothing and home wear articles.
"We are glad to announce this partnership that will bring our leading brand closer to the Timisoara community. Our partner has been very helpful and we are grateful for their support during the whole process. Our intention is to continue expanding our operations and opening new stores in premium locations in Romania," Marks & Spencer Romania general manager Evie Filissiadi said.
Marks & Spencer has been present on the Romanian market since 2000. Starting September 2017, it operates in a franchise system through Cyprus-based Voici La Mode Group, which has taken over three stores in Baneasa Shopping City, Plaza Romania and Bucuresti Mall, all of them in Bucharest.
Marks & Spencer is present in 50 countries with over 900 stores in the UK, over 400 international stores and 25 online stores.
Voici La Mode Group is a family business founded in the early 1950s by the late Artemisia Panayiotou who first introduced the products of Marks & Spencer in Cyprus, in 1960.
Today, Voici La Mode Group owns and operates 35 retail locations in Cyprus and Romania.
($= 0.8862 euro)