H&M opens another store in Portugal

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International fashion brand H&M is about to open another shopping centre in Portugal, this time Glícinias Plaza, in Aveiro.

The new store opened on the 31st October will be this shopping centre fashion anchor store. Occupying over 2,300 m2, the new H&M will therefore enhance the portfolio of Glicinias Plaza, which now has retailers like Jumbo, Lusomundo, McDonald's, C&A, Sephora, Lanidor Loft, Seaside and Espaço Casa, amongst others.

H&M has expanded its global presence substantially in recent years, and Portugal is a key component of its expansion plans. It currently has around 3,000 stores in 53 countries, 26 of which are located in Portugal.

In this transaction, Cushman & Wakefield acted on behalf of the owner of the Glícinias Plaza shopping centre, Vougainvest.

Glicinias Plaza has a gross leasable area (GLA) of 35,000 m2, located on a single floor, with 94 stores and restaurants, in addition to a free, covered parking lot.

Rui Carvalho, the commercial director of Vougainvest, said “When the impossible turns into reality, we have to subdue ourselves to the professionalism, persistence and loyalty of all Vougainvest, H&M and C&W teams involved in this project.”

Isabella Jurado-Blanco, associate of Cushman & Wakefield’s retail department comments “A fashion anchor store like H&M is an asset to any shopping centre, and Glícinias Plaza is no exception. It was a big challenge, but we are most pleased to have placed a store occupying 2,300 m2 in a shopping centre in business since 1999".