Look out H&M, Zara might be the next hot, European-import on the block É make that blocks. The Spanish retailer that caters to a middle-tier market hungry for trendy sportswear plans to launch an Initial Public Offering on the Madrid stock exchange early next year – which, could strengthen the retailer's U.S. invasion.
Zara already operates six units in the New York area, and is currently renovating store it first opened on Lexington Avenue at 59th Street. If the IPO is successful, Zara reportedly plans on opening 40 U.S. stores in the next two years, and eventually have as many as 400 locations. The retailer was eyeing properties in Boston, Chicago, San Francisco and Los Angeles, a year ago.