Many retail brands are closing down underperforming stores and this has made way for new names to take their spots at top shopping centers.Companies such as Zara, Forever 21 and Lululemon have already established their base in the retail market, but they are trying to boost their sales figures by introducing new concepts in specific niche markets.
Six:O2Foot Locker launched its Six:O2 concept during 2012 and aims to reach sales of $10bn by 2020. They plan to open 20 more stores under this brand during the current year.
Forever 21This privately owned company is looking to snag a larger piece of the market. It launched a new concept, F21 red, during May which is focused on entry-level pricing. At these stores, shoppers can obtain a camisole for under $2. The company currently has five of these ‘red’ stores within the US and one within Germany. It has plans to open around 37 additional stores by year-end.
Lululemon for MenLululemon has opened its first menswear-only store in Manhattan. There are no plans to open another men’s store, but it has seen an increase of 16% in comparable-store sales during the fourth quarter.
IvivvaIvivva also falls under the Lululemon umbrella. This store is focused on the youth market. Ten new Ivivva stores were opened during last year and the company now has 22 stores and 37 showrooms. Plans are afoot to open 20 more stores during 2015.
Zara HomeZara has been extremely successful in the US and plans to open more than 12 stores during 2015. These plans do not include the opening of Zara Home within the US, although many shoppers are hoping for this. Zara Home has in excess of 400 stores globally, but only operates an online facility within the US.
Theory+With the increase in sales of athletic wear, fashion brands have decided to jump on the bandwagon. Theory launched its Theory+ collection during 2014. It opened its first location in Seoul during this month and its second location will open in Los Angeles on Friday.
AthletaAthleta, the online athletic apparel firm, is owned by Gap. It was acquired by the firm during 2008 and is launched its first store three years later. It recently opened its 100th store and plans to open 20 more during 2015.
Lou & GreyAnn Inc. tested their Lou & Grey stores during the fall and ended last year with five freestanding stores within the US. The group plans to increase Loft Lounge, its loungewear concept, by testing around five locations during 2015. It is also due to launch an e-commerce site, which will make its debut during the summer.
The Fisher ProjectThe Fisher Project, a concept by Eileen Fisher, has now been open for almost 12 months in LA, targets younger shoppers.
& Other StoriesH&M’s 2015 goal is to open 400 stores. However, this is not limited to its main label. Its other brands consist of higher-priced ranges, COS and & Other Stories, which were both opened in the US during last year.
& Other Stories was launched during the spring of 2013 and currently holds 23 stores, most based within large European cities, such as Milan and London. It is due to open four more stores in Europe by fall.