Spanish fashion giant Cortefiel is to bring three of its brands to the UK in the first deal for property company Land Securities’ Brand Empire venture.
As tipped in Retail Week (October 9, 2009), Cortefiel will make its UK standalone debut in partnership with Brand Empire. Three of its brands - Cortefiel, Springfield and Women’ Secret - will launch in the spring or summer, with a second phase of openings planned for autumn and more in the next five years.
Brand Empire will invest in stores and staff while Cortefiel will be responsible for the product and marketing in the UK. In 2008 Debenhams trialled the Springfield and Cortefiel brands in some department stores, but they were phased out.
Land Securities set up Brand Empire last year in an attempt to help more international retailers enter the UK market.
Cortefiel already has operations in 60 countries, and group managing director Ezequiel Szafir said the move “will give us quick access with high presence while reducing some of the risks usually encountered when entering a new market”.
Brand Empire has been set up as an “arms-length” subsidiary of Land Securities, with its own board and employees conducting negotiations with Land Securities and other landlords.