Women’Secret drives international expansion with new stores in Russia
today Mar 19, 2019
Spanish lingerie and homeware brand Women’Secret has set its eyes on Russia. The country has become the main target for the brand, where it has recently opened new stores and an e-commerce shop, and will continue to dominate its expansion strategy throughout the year.
In addition to the Women’Secret online store, the label has launched a 174-square-metre store at Okhotny Ryad shopping centre, situated in the very centre of Moscow. The opening takes the presence of the brand owned by Tendam, and formerly Cortefiel, to 22 stores in the Russian capital and a total of 60 stores nationwide. This will be further boosted with the opening of 10 additional sites in the market throughout the year, FashionNetwork.com understands.
Russia is part of an international expansion plan which is also targeting the Balkans. In fact, the lingerie label aims to open a total of five stores in Serbia, Croatia and Bosnia before the end of the summer. And beyond Europe, Women’Secret is set to open two new sites in Mexico, joining a string of concessions within El Palacio del Hierro and more than a dozen standalone stores. The past few months have also seen the brand arrive in Austria and Georgia, and there are plans to make a market debut in Ukraine, Morocco, Ghana and Cyprus soon.
Women’Secret has been accelerating its global expansion since 2017, when it outlined its growth ambitions with the launch of the brand in Cuba and India. Established in 1993, the company has a presence in 72 countries through 746 stores. Women’Secret is part of Tendam, which also owns clothing brands including Cortefiel, Pedro del Hierro, Springfield and Fifty. In the first nine months of 2018 the group reported revenues of 801.7 million euros, and a 26.4% increase in online sales.
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