Grupo Cortefiel announces US expansion plans
Spain¬ís second biggest retailer Grupo Cortefiel has announced plans to expand into the US.
The group, whose brands include Cortefiel, Springfield, Women’s Secret and Pedro del Hierro, will initially open Cortefiel stores in shopping malls across the country. This will be followed by openings by the other brands in 2014 and 2015.
Grupo Cortefiel plans to launch more than 80 stores in the US over a five year period, starting with the north east coast. The first Cortefiel store opening will coincide with the New York debut of the group’s upmarket Pedro del Hierro brand which will be showing at New York Fashion Week in September.
To drive the US expansion, the group has partnered with Saudi Arabian group Alhokair Fashion Retail whose other partners include Gap, Banana Republic, Topshop and Marks & Spencer.
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