US giant Anthropologie’s debut in the UK has been hailed an early success by its parent company, which said it “generated the second best opening day sales in our history”.
Owner Urban Outfitters updated investors this month, and reported the store, which opened on London’s Regent Street at the end of October, is performing to plan.
The Regent Street store is one of two shops planned for London, after which Anthropologie will expand into the rest of Europe. Its European operation is being run by former Selfridges marketing director and chief executive of Visit London James Bidwell.
Wall Street Strategies equity research analyst Brian Sozzi said customers are a lot more aware of international brands as a result of travel and the internet. “An opening five or 10 years ago would not have had as good a reception,” he said.
However, Sozzi did question Anthropologie’s approach of opening large expensive flagships. “I don’t necessarily agree with the flagship openings as they are capital intensive.” However, he admitted: “They could generate strong returns in the future.”
Sozzi said that Anthropologie and Urban Outfitters’ strength is that they “stand apart from others in retail”.
Urban Outfitters’ third-quarter net sales rose 6% to $506m.