US retail giant Jones Group has set its sights on expansion into Europe following the acquisition of Kurt Geiger last year.
Jones Group, the owner of brands including Nine West, Stuart Weitzman and Anne Klein, acquired premium UK footwear retailer Kurt Geiger for £215m last year and has said that it is looking to expand into Europe.
According to the Financial Times, Richard Dickinson chief executive of the branded business at Jones Group has said that the number of European tourists flying to the US specifically to shop for US brands has prompted the group’s decision to expand into Europe.
“Whilst Europe is clearly facing significant economic challenges, it remains a huge consumer base with considerable spending power,” he said. “It is a priority market, particularly now that we own Kurt Geiger.”
Jones Group is not the only US retailer looking to gain a foothold in Europe. US fashion group Tory Burch recently opened stores in London and Rome and is now reported to be planning openings in Germany and Turkey.