19. April 2012 Print
London is number one target for international retailers
North American retailers are by far the most global with 73% present in all three regions (Europe, Middle East and Africa; Asia Pacific; The Americas), compared with 44% of European retailers and 23% of retailers from Asia Pacific. London is the number one city targeted by American retailers with 64.7% operating at least one store there, closely followed by Dubai (61.2%) and Kuwait City (49.3%) in third position.
Peter Gold added:
“The trend for US fashion retailers making strategic advances into the UK continued in 2011, building on the highly successful entries of several major US brands in recent years. This is largely because the US retail market is saturated and the language and cultural characteristics shared with the UK make establishing a brand and merchandising a store easier than in other European markets.”
Further CBRE research into the number of new store openings in the past year reveals that Europe was the most targeted region at city level accounting for 48% of new entries, followed by the Middle East and Africa with 22%, and Asia with 14%. North America, Pacific, and Latin America attracted 8%, 6% and 1% respectively.
Almaty (Kazakhstan) was by far the most sought after new city last year with 18 new retailer entries. This was largely down to major infrastructure improvements; the delivery of new shopping centre space; and the arrival in 2010 of the Inditex Group, which operates brands such as Zara, Pull & Bear, Massimo Dutti and Bershka, and has encouraged other new entrants to the market. Other factors include the growth in average income levels, major infrastructure improvements and participation in the Customs Unions with Russia and Belarus.
The east European cities of Moscow (11 new entrants), Kiev (9) and Warsaw (6) were also key targets in 2011, as retailers focused their expansion plans on those markets with the most robust economies and best growth prospects.