THE image of Spanish companies suffering from inertia due to the siesta culture can now be put to bed.
Spain’s top fashion brands are moving onto the British high street like never before.
No less than four big Spanish chains are planning to expand further into the UK this Spring.
Fashion firms are leading the way with Zara – who already have 65 stores in the UK – planning dozens of new shops.
Mango has opened 15 new outlets in department stores over the last year, making a total of 46 shops around the UK. More are planned.
“In Spain they are having to offer half price goods, just to sell their stock, in the UK they can sell the same goods for more money.”
Desigual, another clothing chain targeting youngsters, already has 200 stores in the UK but wants to open more this year.
Tous, fronted by Kylie Minogue, are about to open two new stores in London while children’s clothing firm Neck and Neck and shoe store Camper are planning new shops.
Audacious company Café y Te may even try selling tea to the English with plans for three outlets in London.
While the shops are only keeping their heads above water in Spain, in the UK they are making decent profits.
“In Spain they are having to offer half price goods, just to sell their stock,” said one industry insider. “In the UK they can sell the same goods for more money.”
Meanwhile British brands are suffering in Spain with Vodafone reporting a 6.8 per cent loss last year.
Burberry announced it was cutting 300 jobs in Spain this year.