Penneys today confirmed its plans to move its current store in Dundrum Town Center to the upper floors of the former House of Fraser site in one of Europe’s largest malls in recent years.
Penneys will invest €14.8 million in the new Dundrum store, which will feature 60,000 square feet of retail space – a 64% increase over the existing store in the mall.
Work on the new store will begin this fall and is scheduled to open in early summer next year, with the company expected to create a number of additional business opportunities at the relocated larger store.
The existing Penneys store will remain open during construction.
Penneys said the Dundrum store expansion reflects its commitment and continued investment in Ireland and follows the company’s announcement last November to invest more than €250 million in its Irish business over the next 10 years, creating more than 700 jobs in Ireland over the next three years.
The retailer plans to increase its total selling space in Ireland by about 20% over the next 10 years.
Damian O’Neill, President of Penneys ROI and NI, said that as one of Ireland’s leading shopping destinations, Dundrum is a really important location for Penney and is very popular among its clients.
“The increased size of the store means we can offer a much wider range of fashion, beauty and homeware. We have big plans and great ideas on how to bring our unique in-store design to life for our customers in Dundrum, and we look forward to opening early next summer.”
Conor Owens, Managing Director, Ireland – Hammerson Group Management, said the new store will be one of the largest retail offerings for the brand in Ireland and complement Hammerson’s occupants’ strategy of blending home retail brands with vibrant customer-led services from entertainment to restaurants.
“The Penneys signature also demonstrates the value that major brands continue to see in the physical space against an ever-evolving retail landscape. This is one of the largest mall rentals in Europe in recent years and is an indication of what’s to come in 2022 and new uses and partnerships in Dundrum Town Center is in the pipeline,” Mr. Owens added.
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