The UK has become a prime target for expansion-minded retailers, according to research from Jones Lang LaSalle.
The UK has attracted more new entrants then any other major market over the past few years. These include Tchibo, Moreland and Deichmann from Germany, Jennyfer, Aigle and Paul from France, Geox, Expensive! and John Richmond from Italy, Massimo Dutti, Ana Sousa and Zara Home from Spain and many from North America, including Skechers, Spencer Gifts, J Crew and Aldo.
Jones Lang LaSalle head of retail & leisure agency Mark Watkins said US retailers especially use the UK as a stepping stone to the rest of Europe. He said: ‘London’s global scope continues to keep the UK in the number one position by attracting a multitude of retailers that want to further their international recognition and marketability, while taking advantage of the recently buoyant consumer market.’
Since 2000, cross-border retail activity was up 46 per cent on the previous three-year period. According to JLL, retailers have been shrugging off the worldwide economic uncertainty since 2001, because they face saturation in home markets and therefore need to seek opportunities abroad.
According to the JLL survey, only eight of the top 40 European retailers have not yet ventured beyond their home markets, and fashion continues to be the most active sector for cross-border activity - accounting for almost half of all moves.
The world’s fashion markets have become increasingly harmonised over the past few years, and, as competition at home intensifies, fashion retailers continue to look at new destinations to grow market share.
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