The retailer, which last week made its UK debut with the launch of its Cortefiel and Springfield brands in Debenhams, favoured the franchise route as a low risk, low investment way to test the market during the credit crisis.
Alex Cara, general manager at Cortefiel’s franchise division, said: “We have been approached about standalone stores [in the UK], but everything is on standby. We want three to four months’ trading under our belt.”
He stressed that, in spite of the global downturn, there are opportunities for growth in the UK and to differentiate Cortefiel from other brands in the country and within Debenhams.
“There are many things that we can do to trade through,” said Cara. “We have to remain strong and innovative. At this moment, it is all about product offer and design, versus price, versus quality. It is about working hard, getting the message to your customer and building trust with franchisees.”
Cortefiel, which launched in Debenhams’ Oxford Street and Guildford stores, is poised to open in a string of countries including Australia, Israel, Syria, Jordan, Algeria and a number of former Commonwealth of Independent States countries.
Cara said Cortefiel, which has 1,500 stores in 46 countries, will end its 2009 financial year with “a healthy profit above expectations”.
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