The fashion brand Desigual meets its objectives and continues its international expansion into new markets. The firm has just launched a new store in Miami, in the United States. The textile chain wants to develop its brand in South America as it is in the process of boosting this market. It is in Brazil where it is piloting its expansion alongside Horacio Broggi.
The new establishment in Miami offers the new collections for men, women, footwear and children and is located in Aventura Mall.
In recent months, Desigual has acquired a greater presence in the U.S a booming market in which its founder Thomas Meyer has chosen nine outlets in cities such as Las Vegas, Los Angeles, Paramus (New Jersey), San Francisco and Santa Monica as well as three other stores in New York, located in Soho, Herald Square and Fifth Avenue.
The opening of the store Miami is a sign of support to the Latin American market. With a local partner, the group opened its first store in Uruguay two months’ ago. It already has a distribution network made up of fourteen establishments in Latin America, in countries such as Chile, Brazil, Colombia and Puerto Rico.
The chain has announced the opening of up to fifty more points of sale by 2016 “Latin America is a very large market, we are talking about 21 countries. For this reason, we have divided the region into three areas: Brazil, Mexico, and other countries, where we are committed to local partners”, pointed out Broggi. According to the manager, the decision to choose local partners serves to “avoid the entry barriers” that exist in Latin America.
Desigual closed 2013 with 405 single brand stores 89 of which were opened during the past year. Its turnover was 828 million euros, representing an increase of 18% over 2012 and nearly triples that of five years ago.
Source: spainbusiness.com; 2014-04-23
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