Spanish footwear and accessories retailer Coolway has opened its first UK store ahead of a European roll-out next year.
The 3,229 sq ft store, which opened on Oxford Street in London last week, is Coolway’s first outside its home market. It follows strong UK wholesale sales.
According to managing director Carlos Mayordomo, more than 70% of the retailer’s turnover comes from its wholesale business in foreign markets, so it was confident a store in London would do well.
“Since we launched Coolway in 2003, we have seen a year-on-year sales increase of between 50% and 70%,” he said. “We are now ready to take the next step and branch out into Europe.”
Locations for 20 new European stores next year include Berlin and Oslo. Mayordomo also said Coolway would open two concessions in the UK in “popular department stores” before the end of this year.
Coolway, which has five standalone stores in Spain and is wholesaled in 52 countries, is putting together a three-year business plan that outlines proposals for 300 stores in the Far East by the end of 2014.
Mayordomo described the opening of the London store as a “monumental part” of the retailer’s international business plan.
Retail prices range from £19.95 to £74.95 for footwear and £2.95 to £49.95 for accessories.