US fast fashion giant Forever 21 is taking a cautious approach to UK expansion as the macro-environment remains volatile.
Chief executive Larry Meyer said: “The UK, and Europe in general, is not the same today as it was two years ago.
“There’s no certainty in the EU. We’re approaching our expansion with a sense of caution.”
Last year, Meyer said he wanted to open 100 stores in the UK and vowed to have stores in “every major city, every mall and every major high street” within the next five years.
He declined to say whether his new wariness would impact store number projections. Meyer said that, although he was encouraged with performance in the UK so far, future expansion will hinge on finding the right deals.
Meyer also said Forever 21 aims to improve logistics to speed up delivery times into the UK.
The retailer, which is famous for its daily deliveries in the US, wants to match delivery times in the UK.
Forever 21 made its debut in the Birmingham Bullring in 2010, and has stores on London’s Oxford Street and Westfield Stratford.
Harper Dennis Hobbs is property agent for the retailer in the UK.