UK's Reiss plans international expansion
British retailer Reiss is looking to expand. The brand is opening stores on Madison Avenue and at the World Trade Center in New York next spring, reported Drapers.
In the US, Reiss already has five New York stores as well as boutiques in California, Massachusetts, New Jersey, Florida, Maryland, Illinois and Virginia.
The brand is going "down under", too - Reiss intends to enter the Australian market with two Melbourne stores. In early 2016, the brand is also opening its first standalone store in France.
Reiss reported a 10% rise in sales to £128m in the year to last January, and its operating profits almost quadrupled to £13.7m. The brand currently has 130 stores (80 in the UK) but founder David Reiss has said he aims to grow the number to 250. He is considering selling a minority stake in the brand.
Copyright © 2023 FashionNetwork.com All rights reserved.