Home / Knowledge / News / Apparel/Garments / US apparel retailers gung-ho on EU markets

US apparel retailers gung-ho on EU markets

02
Jul '12
At a time when consumer sentiment is at its nadir in Europe, mainly due to the ongoing debt crisis, few well-known high-end US clothing retail firms are choosing Europe as the preferred destination for their expansion plans.
 
In order to offset the declining demand in China and the US, American garment retailers are betting on Europe as a part of their geographical diversification strategy, despite the ongoing eurozone debt crisis and low growth rates in the EU. 
 
Europe, being a mature market, is prone to lesser risk compared to emerging economies of Brazil, Russia, India or South Africa, and that is the reason for luxury apparel retailers to postpone their foray into emerging countries, and instead expand in Europe, according to Jones.
 
Jones, which owns brands like Anne Klein, has expanded in Europe in the last two years, and its international sales now account for about 22 percent of the company’s total sales, compared to a mere six percent sales two years ago.
 
Jones reasoning is that Europe has vast number of consumers possessing huge spending power, and that fact does not change even though the region is going through a period of economic turmoil. 
 
Jones’ decision to open more outlets in Europe also arose partly from the fact that every year millions of Europeans visit the US specially to buy US-made products.
 
Like Jones, apparel brand Theory has also announced plans to open outlets in France and the UK. Explaining the rationale behind its decision, Theory said the company is looking at long-term prospects and Paris and London will remain key cities for growth, irrespective of short-term fluctuations in their local economies.
 
Another US apparel retailer Tory Burch opened its flagship outlets in London and Rome this year and is planning to open stores in Turkey and Germany in 2013.
 

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Feb 2020

UK risks losing up to 14% of exports to EU if no deal: UN

Non-tariff measures could cause major fractures in post-exit UK-EU...

Pic: Shutterstock

Textiles | On 26th Feb 2020

Turkey's textile industry employs 1.67 mn: minister

Turkey's textile and garment industry currently employs around 1.67...

Pic: UNCTAD

Textiles | On 26th Feb 2020

Barbados unveils one-stop investment guide

As Barbados prepares to host the 15th quadrennial conference of the...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Customised t-shirts is not a fad

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Poojaa Kumar Deepak, Zeven

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Laksheeta Govil,

Laksheeta Govil

Founded in 2014, Fizzy Goblet is a Delhi / NCR based handcrafted leather...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search