New Balance strengthens European retail network
It's only a little New Balance store that has opened recently in Paris' Forum des Halles. But, the 155 square metre store, set out as an Experience Shop like the in Berlin only a few months old, shows the sportswear brand's new ambitions for Europe.
The American brand, which has some sixty stores in Europe -- mostly in Turkey and eastern Europe, is preparing to open a series of new stores in western Europe. The biggest will open on Oxford Street in London and will be New Balance's European flagship, with 1,100 square metres of floor space, across three levels. Another, at the Piazza Gae Aulenti in Milan and covering 700 square metres, is set to open September 8. The sports retailer is also planning an Amsterdam store, with location details still in the pipeline.
New Balance is also in the process of creating a subsidiary in The Netherlands, much like the one it has in France, which hopes to simplify its market entry. New Balance, which continues to work with licensor Groupe Royer for European markets France, Belgium, Luxembourg, The Netherlands and Germany, created an entity in France several weeks ago. It's a structure, which should allow New Balance to open a second store in Quatre Temps at La Défense by the end of the year. The 300 square metre space will house running and lifestyle sections instore, as well as training and football. New Balance is also preparing a Spanish market facilitator, which will gradually roll out activity for the brand across the Iberian Peninsula.
The New Balance group said it hopes to have 300 stores across Europe, including 120 directly-operated stores, in three to five years time. The group achieved a turnover of 3.72 billion dollars in 2015.
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