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Will H & M Enter the Georgian Market? – the Company Responds to “Commersant” Questions

The entry of  the world brand H & M has not yet been decided. The company CBD Development which is engaged in the construction of the East Point trade center states that negotiations with the brand are  still underway.

“We are actively involved in the talks with  H & M . The brand  gives preference  to our shopping center if they  decide to enter the market.

But, unfortunately, they don’t intend to enter Georgia and   the Transcaucasian market at this stage. But yet there is hope “, – Nini Gorgodze, a representative of the company’s sales and marketing department, told “Commersant”.

A multifunctional  complex worth USD 90 million is scheduled to be opened next spring. The company says that 70% of the spaces have been rented. Price starts from USD 35 to rent space in the complex.

It is known that a large hypermarket, electronics as well as houses and the repair materials shops will be located in the complex.  A well-known clothing brands, such as Zara, Massimo duty, Stradivarius, Mango, Jeans Gallery, etc will be presented in the trade center.

Swedish clothing brand H & M  planned to  open its first store in Georgia in Tbilisi Mall three years ago but  abandoned this ides due to the lack of space.

“Commersant” was told at  H & M they had no plans to enter the Georgian  market in 2015.

“There are a lot of the markets where we are not represented this time. At this moment we do not have a specific plan of when and where we will open our stores in Georgia.

The brand’s shops  will be opened  in Peru, India, South Africa and Taiwan in 2015. We plan to enter 8-10 market with our online shops, “- a representatives of the Department of Communications and the Press at  H&M  told “Commersant “.