SPAIN: Dubai’s Landmark to open 100 stores by 2016
Dubai-based retailer Landmark intends to open 100 shops in Spain by 2016 and make the country its European pied-a-terre, Spanish newswire Europa Press reported.
The company will open two Shoe Mart banner stores in Madrid this month. It will then roll out stores across Spain including Murcia, Toledo and Talavera de la Reina.
Landmark hopes to make Spain its European hub because the country's fast-growing shoe market presents strong growth opportunities, Europa Press quoted officials as
The company will analyse strategic expansion opportunities in Europe from its Spanish headquarters, the newswire added.
Landmark executives could not be reached for comment.
Landmark will also consider setting up mixed shoe/apparel outlets in the future, according to Europa Press.
The retailer hopes its Spanish stores, which will measure about 1,200m², will ring up annual sales of EUR2.5m (US$3.2m) and break even after one year of operation, Europa Press said.
Shoe Mart has a unique shoe retailing concept that features private labels and other brands. The stores also have café corners and children attractions.
Landmark has a strong presence in the Middle East and India.
By Ivan Castano.
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