The premium and accessible fashion brand, & Other Stories opens its first ever Baltic Store in the shopping center Galleria Riga, in Riga, Latvia

22May

& Other Stories the well acclaimed high fashion brand will open 740sqm this Autumn in the heart of Riga, in the newly repositioned lifestyle and boutique galleria – Galleria Riga.

When the Riga market is getting a total make over with new-, expanding- and refurbished shopping centers, Galleria Riga puts in the second gear with its new owner East Capital.

“East Capital and Galleria Riga are very excited about the opening of & Other Stories, which is one of the most relevant fashion brands for the moment.” says Martin Otsa,Investment Director at East Capital Real Estate.

Martin continues, “In the ever-evolving retail market you can never rest. Galleria Riga have found the recipe for success to meet the changed and high demands from the customers; with more unique brands, experience and a lifestyle orientation towards high fashion, food, socializing and with a big portion of services to meet the fast-raising self-improvement trend. We have a very conscious customer in Galleria Riga and & Other Stories will in combination with the very popular COS store and other unique brands give Riga a welcoming boost in the high fashion direction.”

“We warmly welcome & Other Stories who is a unique and spot on fashion and lifestyle brand. We will be even more unique, and it will create more interest in Galleria Riga, which have had a fantastic growth in both turn over and foot fall the last years. This will put us in front in Riga.” Says Zane Sulca, Property Manager at Galleria Riga.

& Other Stories was launched in March 2013 and offers women a wide range of shoes, bags, accessories, beauty and ready-to-wear items. Ateliers in Paris, Stockholm and Los Angeles design diversified fashion and beauty collections with great attention to detail and quality. & Other Stories’ stores can be found in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Poland, South Korea, Spain, Sweden, United Arab Emirates, Kuwait, Qatar, United Kingdom and United States.

Galleria Riga – The Lifestyle and Boutique Galleria – was opened in 2010 totaling 24,300 square meters of gross leasable area. Galleria Riga is owned by East Capital Baltic Property Fund III and managed by East Capital. Daily operational management and development are provided by BPT Real Estate and by the Stockholm based asset manager and retail real estate specialists, The Retail Headquarters AB.

East Capital Baltic Property Fund III is a real estate fund established by East Capital in August 2015. It invests in high-quality commercial properties with well-established tenants in attractive locations in Tallinn, Riga and Vilnius. The equity capital of the fund is EUR 100 million and it is targeted to institutional investors. Current property investments in the fund are Vesse retail center, Nehatu Logistics Park and the first Hilton hotel in the Baltics, located in and around Tallinn, as well as P5 Logistics Complex and Galleria Riga in Riga.

East Capital Real Estate, part of East Capital group, is a leading real estate asset manager in the Baltics with a team present on all three markets. The team manages three funds with a total leasable area of 400,000 sqm spread over 25 properties and with total asset value over EUR 415 million.

East Capital is an independent asset manager specialized in emerging and frontier markets, founded in Sweden in 1997, with offices in Dubai, Hong Kong, Luxembourg, Moscow, Oslo, Stockholm and Tallinn. The company manages EUR 3.2 billion in public equity funds, real estate funds and separate accounts, for a broad international investor base, including leading institutions.