The Turkish fashion brand Koton will enter the Hungarian market and plans to open the first eight stores in retail projects managed by Adventum.
All the stores will be located in shopping centres across the country, with three in the capital, Budapest. Koton aims to spread across Hungary by opening stores in other major cities such as Sopron, Debrecen, Szeged, and Székesfehervár.
Koton has leased 6,000 sqm for its stores slated to open in Adventum’s projects. The largest one spanning 1,000 sqm will open in Adventum’s flagship project Köki Shopping Center.
“At Adventum, we have strong experience in real estate acquisition, development, refurbishment and management in the CEE region. We are pleased that we have joined forces for Koton's entry into the Hungarian market for the opening of eight new stores, this is indeed a big step forward for both Koton and the Hungarian fashion retail market. It is also a testament to the success of our strategy, as we are able to offer large scale, country-wide store networks to key international and local players, allowing them to execute a country-wide strategy with us,” says Adventum Group’s Founding Partner and CEO of Shopper Park Plus Plc Kristóf Bárány.
Adventum manages over 700,000 sqm of commercial real estate across Central Eastern Europe worth over €1 billion.
Koton CEO Dr A. Bülent Sabuncu added that the company aims to add 130 to 150 new stores in international markets in the medium term. Last year, Koton recorded 34.5% of its revenues from international operations.
At present, around 500 Turkish companies operate in Hungary, and the two countries have recently celebrated one century of diplomatic relations.
