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H & M may Enter Georgian Market

A well-known brand H & M might enter the Georgian market. “CBD  Development”  confirms negotiations with the brand in a conversation with “Commersant”, but notes  that a final decision regarding the brand’s  entry into  Georgia has not yet taken. ”CBD Development” is building  a multi-functional complex worth USD 90 million  in Tbilisi.

According to the company, 85% of the spaces have been rented, but names are not specified.

It is only known that the complex will include a large supermarket, electronics stores, home repair and materials stores, the children’s entertainment center will be located on the territory of 3 500 square meters, movie theaters and a bowling center as well as  brand shops, cafes and restaurants. The price of the rent space in the complex starts from USD  35. A multi-functional complex is the company’s first project and its opening is planned for the spring of 2015.

Note: The Swedish clothing brand planned to open its first shop in Georgia in “Tbilisi Mall” three years ago, but rejected these plans because of lack of space.

The company produces and sells clothing. It is known for affordable pricing policies.