I remember at least five years ago hearing the speculative gossip that Zara was hitting New Zealand shores soon. So rife were the rumours and for such a long time they spun among the retail industry I was sure it was becoming a bit of an urban legend. Alas, half a decade on, Zara is finally coming to the land of long white cloud and interestingly it has been pipped at the post by fashion heavyweights Top Shop and H&M. Zara is no drop in the ocean; it knows a thing or two about building a
powerful success story.
It has just announced a 20 per cent surge in nine-month net profits and is clearing 14.7 billion euros in sales. Some would say it is because its investments and widespread expansion have started to pay off.
That is one healthy profit and loss statement.
With 230 Zara stores across the globe – why are we finally getting a look in?
And why are some of the other large retailers starting to follow suit?
NZ’s population is low compared to other fellow lands but its economy remains robust and I believe it’s actually NZ’s tourism numbers which are attracting the retailer heavyweights.
Tourism is set to overtake dairying as this country’s leading export earner within the next year and its hearty cruise ship contingent is boosting numbers of travellers with piles of money in their back pockets.
So, Zara’s going to Sylvia Park to compete head to head with what I would probably call its nemesis.
H&M and Top Shop have just announced they’ll be opening their second stores in Christchurch. Victoria’s Secret opened in the Auckland International airport without much hullabaloo and the latest buzz is Tiffanys is snapping up premises in Britomart.
Close to my heart and almost too hard to mention is Ikea. Yes, there was tittle-tattle it was searching for a location but nothing was large enough or close enough for logistics purposes. So, whilst it plans to increase store numbers from eight to 22 in the next year in Australia, New Zealanders will have to play the waiting game.
The general rule is that if the Australian arm of the business is set up, NZ will be next on the agenda. It’s all about logistics and ease of setting up and with the Downtown development going ahead, the attraction to open up on NZ shores will be tantalising.
Who’s next? Aldi? Gap? Mango? Marks & Spencer? Abercrombie & Fitch? And Apple?
Whatever, whoever and whenever I’m incredibly excited about what our country will look like in a few years’ time and we should stand tall with pride that we are now certainly a country others are looking at with respect.
Lizzi Hines
MD Spaceworks Design Group
For retail property and design advice call 0800 2 FIT OUT.
