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Focus on Europe, Asia, Latin America
Urban Outfitters Inc. (Philadelphia), parent company of Urban, Anthropologie and Free People, announced it is accelerating its expansion efforts in Europe. Ceo Glen Senk told Women’s Wear Daily that the company has opened its first distribution center in Europe and a direct-to-consumer business in Latin America, while also eyeing Japan.
“We’re looking at Japan as the entry point and our gateway to other Asian markets,” says Senk, reports WWD. “All three major brands have an opportunity there. It’s likely we’ll go first with Anthropologie, but the others will go too.”
A new Urban Outfitters store, on Fifth Avenue and 43rd Street, is expected to open soon and a new wedding concept called Beholden will launch in the third quarter of 2011.
For the third quarter ended October 31, the specialty apparel retailer reported that net sales grew 13.4 percent to $573.6 million with direct-to-consumer volume climbing 32.5 percent. Same-store sales increased 1 percent. Among its brands, comps at Urban Outfitters and Anthropologie both grew 5 percent, while Free People’s same-store sales jumped 29 percent.
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