The largest Greek department store chain NOTOS will enter Bulgaria with the opening of the new Sofia Ring Mall. This was announced officially at a special event organized by the mall’s management on Tuesday, 1st of October.
NOTOS is a leader in the department store sector in Greece with 8 department stores with more than 40 000 m². of retail space. The company also operates stores in most Balkan and Central-European countries, Cyprus and Malta. It manages over 75 brands in more than 500 points of sales, among which include CHANEL, GIVENCHY, GUERLAIN, RALPH LAUREN, YVES ROCHER, LACOSTE and many others. The first NOTOS store in Bulgaria will house around 60 apparel brands, 20 accessories, handbags and shoe brands and 100 cosmetics and fragrances brands on an area of 6,000 m².
“We are very glad that we will be able to enter such an exciting new market as Bulgaria through our partnership with the Sofia Ring Mall,” said Barbara Vernikou, managing director of NOTOS. “We will put into practice our ‘shop in a shop’ concept, which is a first for the country and we hope will make the shopping experience of many people easy and fun.”
The Sofia Ring Mall is a new generation mall in Sofia, the capital of Bulgaria, which will transform the retail landscape in the whole country. The whole complex will be situated on an area of 100 000 m² and will have over 200 shops. It focuses more on entertainment and recreation activities rather, than just on retail business. The whole complex will have large open spaces, extensive terraces overlooking the slopes of the Vitosha Mountain and a surrounding park with artificial lakes. It will also include a huge gaming hall, a new-generation cinema and many other entertainment facilities.
The international company TriGranit Management Corporation was selected to be the property manager of the project. TriGranit Management Corporation was founded in 1994 and is a customer centric real estate consultancy. “Our focus is on performance, everything we do is geared towards the performance of our tenants and helping them manage and increase their turnover” commented CEO Philip Evans.
The investors in the project are a joint venture between the Fourlis Group, which operates retail brands including IKEA and Danaos Group, which is engaged in shipping, information technology, construction, banking and financial services and is listed on the New York Stock Exchange. The total investment in the project is over €170 million.