Monsoon will open five Accessorize stores in the US next year, marking the fashion retailer’s second attempt to crack the North American market.
The first Accessorize shop will open in US capital Washington in March. It is understood the second store will be in New York.
The retailer confirmed it was opening five shops in the US, but declined to give any further details.
Monsoon – which comprises the eponymous mainstream womenswear chain and the accessories offshoot – also tried to launch in the US in 2001. The retailer set up a venture in conjunction with US clothing retailer Charming Shoppes, which saw the opening of around 10 Monsoon and Accessorize stores in high-traffic tourist areas such as Boston. The venture was wound up in 2003, in the aftermath of 9/11, when the US economy faltered.
Other UK retailers including Topshop, Karen Millen and Ted Baker have fared well in the US, despite the country’s severe recession.
National retail figures released last week from the Commerce Department showed a mild recovery in US consumer sentiment, as retail sales rose 1.3% in November, a jump for the second month in a row.
Retail Knowledge Bank senior partner Robert Clark said: “If you can get into the US at the moment, there are some good deals to be done. I think Accessorize is an eminently exportable format.” He added that the low-ticket nature of the offer meant that the risk would be lower than if the group were to open
Monsoon stores in the country.
The group operates over 400 Monsoon and Accessorize branches in the UK. The retailer already has stores across Europe and Asia in markets as various as Japan, Germany and Azerbaijan.
In its last published results, Monsoon said sales rose 5.3% to £710m for the 66 weeks to August 30, 2008, and operating profits had risen 12% on an annualised basis to £68m.