Land Securities, through its subsidiary Brand Empire, has announced today that it has agreed terms with Grupo Cortefiel, one of Spain's largest and leading fashion retailers, to bring three of its core brands to the UK. This is the first deal concluded with a retailer using the innovative Brand Empire vehicle which was set up to attract new entrants to the UK market to help evolve the retail offer and drive footfall.
The three brands, Cortefiel, Springfield and women'secret, will target a launch in the spring/summer, with discussions for first locations currently underway. It is anticipated that the second phase of openings for these internationally recognised brands will happen in the autumn with further prime shopping locations targeted over the next five years.
Brand Empire, acting as incubator, will invest in the store set up and employees. The brands of Grupo Cortefiel will be responsible for the product line and brand marketing.
Source: Land Securities