A rising number of US retailers are targeting the UK and mainland Europe, Peter Gold, head of cross-border retail at CB Richard Ellis, told PropertyEU at the ICSC conference in Paris. 'US retailers are taking international growth more seriously again,' he said, pointing to Abercrombie & Fitch which recently opened a flagship store on the Champs Elysee in Paris. Other examples include The Sting, Hollister, Gap and Apple, he added.
A rising number of US retailers are targeting the UK and mainland Europe, Peter Gold, head of cross-border retail at CB Richard Ellis, told PropertyEU at the ICSC conference in Paris. 'US retailers are taking international growth more seriously again,' he said, pointing to Abercrombie & Fitch which recently opened a flagship store on the Champs Elysee in Paris. Other examples include The Sting, Hollister, Gap and Apple, he added.
American retailers are also seeking to boost their presence in the UK, confirmed Bill Giouroukous, head of operations at Westfield's new Stratford mall in East London. 'European retailers are also looking at the UK,' he said, pointing in particular to Scandinavia. He also signalled broader international interest. 'Our first shopping centre in London (Westfield London ed.) brought in new concepts from Australia and the rest of the world. We're now seeing a whole new wave of internationalisation.'
Other Continental European brands targeting the UK include Portuguese retailer Sacoor Brothers, Gold said. The company is also looking at other markets in mainland Europe, as is Urban Outfitter and Australia's Cotton On. 'Cotton On already has a big presence in Asia Pacific and the US and is now looking at Europe.'
Meanwhile UK chain Forever 21 is actively beefing up its presence on the Continent, Gold said. The fashion chain has a store in Vienna and is also committed to opening outlets in Brussels, Antwerp, Munich and Barcelona. 'There is increasing pressure to be international. Many retailers have a broad strategy aimed at dominant locations in the big cities. They don't want to be deep in the market with 200 stores. They want to be in the top 20 markets and use ecommerce for the rest.'
Gold added that it was still early days for ecommerce and multichannel retailing but noted that shopping patterns and habits will change. He pointed out that ecommerce had grown from 5% to 15% of total sales in recent years. 'It is growing and will be a significant force.'
