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Springfield eyes international expansion

Springfield, the Spanish menswear chain which has four standalone stores in the UK, has set its sights set on further international expansion.

The Cortefiel-owned retailer has 750 units worldwide and hopes to enter China, Brazil, India and Turkey as part of its short-term strategy.

Springfield has also said it is on the hunt for strategic partners to help it move into the US market as soon as possible.

It will also increase its presence in “strategic” markets including the UK, Mexico, Russia and South Korea using a franchise model.

Overall the chain hopes to add a further 250 stores to its portfolio by 2014 to reach 1,000 units worldwide with the ambition to draw around 60% of its revenues from overseas markets within five years up from 40% now.

In addition to expanding globally, Springfield also plans to introduce womenswear into more of its stores and for most of its future openings to follow this format.

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