IGD signs a partnership agreement with DOMO for its Romanian shopping centers
Based on the agreement DOMO – an important Romanian operator in the small appliances sector – will be ensured space in nine Winmarkt commercial centers for the next five years
Igd Siiq, one of the key players in the Italian retail real estate sector, listed on the Star segment of the Italian Stock Exchange, and Domo, a primary Romanian retailer specialized in small appliances and electronics, IT and telephony have signed an important agreement based on which Domo will be guaranteed space in nine of the fifteen Winmarkt commercial centers that Igd purchased in Romania in April 2008. More in detail, Domo will open a 1000 m2 store in the Bistrita commercial center and will then subsequently expand its presence in the Buzau, Traila and Vaslui centers following the repositioning of the mezzanine space to higher floors. The existing contracts for the five points of sale in the cities of Ploiesti, Rm.Vallea, Tulcea, Galati and Slatina have been renewed through 1 April 2014.
Domo will, therefore, have a total sales area of 6,460 m2 at its disposition in nine different Winmarkt commercial centers.
The agreement, which comes just two weeks after the one signed with Carrefour, is in line with Igd’s commercial strategy to establish partnerships with high profile local players and to free up the lower floors of the commercial centers where currently small appliances and electronics are normally housed in order to replace them with brand food outlets.
The properties purchased by Igd in Romania have an average area of 9,000 m2 (Gross Leasable Area) and have great commercial appeal as they are located in the historic heart of thirteen different Romanian cities with populations that vary from 100,000 to 300,000 inhabitants.
Filippo Carbonari, Igd’s Chief Executive Officer commented: “This partnership is in line with the strategy for our Romanian portfolio outlined in the business plan. By freeing up the basement levels and relocating the small appliances and electronics on higher floors vertical flows are created resulting in new traffic patterns within the commercial center itself. The other strategic direction we are following, of which the agreement we recently signed with Carrefour Express is an example – Carbonari continued – involves the inclusion of international brands in Winmarkt’s commercial offer.”
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