Table of Contents
Executive Summary - Spain
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- Market for clothing slows
- Clothing market reaches over €21 billion in 2004
- Specialists gain share and remain the dominant channel
- Multiples improve their margins in 2004
- But clothing specialists lag behind other retail sectors
- Concentrated sector because of Inditex
- El Corte Inglés is the leading retailer of clothing
- Growth forecast to bounce back in 2005
Report Scope and Technical Notes
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- Clothing sector versus clothing market
- Technical notes
- Financial definitions
- Currencies
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- Figure 1: Exchange Rates: National currencies against the Euro, 2002-04
- Country codes
- VAT
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- Figure 2: Europe: Standard VAT rates, 2004
- Other abbreviations
Background Data – Spain
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- Population
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- Figure 3: Spain: Population trends, 1999-2003
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- Figure 4: Spain: Population, by age group and sex, 2003
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- Figure 5: Spain: Households by number of members, 2001
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- Figure 6: Spain: Population, by region, 1999-2003
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- Figure 7: Spain: Population of major cities, 1999-2003
- Economy
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- Figure 8: Spain: Gross domestic product, 1995-2003
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- Figure 9: Spain: Consumer prices, 1998-2003
- Figure 10: Spain: Consumer expenditure, 1995-2003
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- Figure 11: Spain: Detailed breakdown of expenditure on consumer goods, 1998-2003
The Clothing Market in Spain
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- Clothing market value and trends
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- Figure 12: Spain: Consumer spending on clothing, 1999-2003
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- Figure 13: Spain: Relative performance of clothing market, 1999-2003
- Channels of distribution
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- Figure 14: Spain: Clothing market – channels of distribution, 2003
- Clothing specialists
- Textile specialists
- Department stores
- Grocers
- Sports specialists
- Home shopping
- Market stalls
- The clothing specialists’ sector in Spain
- Sector value and trends
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- Figure 15: Spain: Estimated clothing specialists’ sales, 2000-04
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- Figure 16: Spain: Clothing specialists, relative performance, 2000-04
- Outlet and enterprise data
European Consumer Trends
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- Introduction
- Comparison of clothing shopping patterns across Europe
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- Figure 17: Penetration of clothing purchasing, by country, 2004
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- Figure 18: Comparison of clothing purchasing in last 12 months, by country, 2004
- Frequency of shopping
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- Figure 19: Comparison of clothing purchasing in last 3 months vs last 12 months, by country, 2004
- Comparison of consumer typologies across Europe
- Germany
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- Figure 20: Clothing consumer typologies, by country, 2004
- France
- Great Britain
- Spain
- Comparison of agreement with clothing lifestyle statements
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- Figure 21: Agreement with clothing lifestyle statements, by country, 2004
Leading Specialists
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- Figure 22: Spain: Leading clothing specialists, 2004
- Market shares
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- Figure 23: Spain: Leading clothing specialists’ estimated market shares, 2004
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Prospects and Forecasts
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- Figure 24: Spain: Estimated clothing specialists’ sales, 2004-09
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- Figure 25: Spain: Clothing specialists’ sales as % of all retail sales, 2000-09 (F)
- Inditex and Cortefiel consolidate and expand
- Where to Mango?
- Overseas players expand
- Product diversification
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Company Profiles
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- Arcadia Group
- Market share
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- Figure 26: Arcadia Group: Share of UK clothing specialists’ sales, 2000-04
- Background
- History
- Building a brand portfolio…
- …And shaking it up
- Disposals
- Restructuring bears fruit
- Taken private
- Philip Green makes his mark
- Latest developments
- Etam acquisitions
- Financial data
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- Figure 27: Arcadia Group: Financial performance, 2000-04
- Outlets
- UK
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- Figure 28: Arcadia Group: Outlet data, 1999-2004
- Expansion plans
- Europe
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- Figure 29: Arcadia Group: International outlet data, April 2005
- European flagships for Top Shop?
- Non-European activities
- Products
- Top Shop
- Top Man
- Miss Selfridge
- Evans
- Burton
- Wallis
- Dorothy Perkins
- Loyalty cards
- E-commerce
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- Figure 30: Arcadia Group: Transactional Internet sites, April 2005
- SWOT
- Benetton
- Market share
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- Figure 31: Benetton: Share of European clothing specialists’ sales, 2000-04
- Background
- History
- Retail development
- Megastores
- Family steps back
- Strategy put in place
- Financial data
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- Figure 32: Benetton: Financial data, 2000-04
- Financial targets
- Regional split
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- Figure 33: Benetton: Group sales by geographical area, 2000-04
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- Figure 34: Benetton: Group sales by commercial activity, 2002-04
- First quarter
- Outlets
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- Figure 35: Benetton: Global outlet data, 2000-04
- Figure 36: Benetton: European store coverage, 2004
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- Figure 37: Benetton: European outlet data by major European countries, May 2005
- Products
- Menswear
- Womenswear
- Sisley
- SWOT
- C&A
- Market share
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- Figure 38: C&A: Sales as % of European clothing retailers’ sales, 2000/01-2004/05
- Figure 39: C&A: Sales as % of German clothing retailers’ sales, 2000/01-2004/05
- Background
- History
- Local wins over central
- Eastern expansion
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- Figure 40: C&A: International expansion record
- Focus on the young
- Financial data
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- Figure 41: C&A: Financial performance, 2001-05
- Sales in selected European countries
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- Figure 42: C&A: Estimated sales in European markets, 2004/05
- Outlets
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- Figure 43: C&A: Total number of outlets, by European country, 2000-05
- Figure 44: C&A: Number of C&A outlets, by European country, 2000-05
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- Figure 45: C&A: Number of Kids store outlets, by European country, 2001-05
- Figure 46: C&A: Number of Clockhouse outlets, by European country, 2000-05
- Acquisitions boost the core C&A network
- Expansion in Germany, but Eastern Europe slows
- Store portfolio diversifies
- Future expansion
- Products
- Price-competitive
- The brand portfolio
- E-commerce
- SWOT
- Cortefiel
- Market share
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- Figure 47: Cortefiel: Spain – sales as % of all clothing retailers’ sales, 2001-04
- Figure 48: Cortefiel: Europe – sales as % of all clothing retailers’ sales, 2001-04
- Background
- History
- Diversification of formats…
- and markets…
- Corporate deals
- Private equity houses bid for Cortefiel
- Financial data
- Track record
- 2004/05 results
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- Figure 49: Cortefiel: Financial performance, 2001-05
- Sales by format
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- Figure 50: Cortefiel: Sales in company-owned stores by fascia, 2002-05
- Sales by country
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- Figure 51: Cortefiel: Sales in company-owned stores by country, 2001/02-2004/05
- Outlets
- Company owned stores
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- Figure 52: Cortefiel: Company-owned outlet data, 2001-05
- Outlet numbers by fascia
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- Figure 53: Cortefiel: Outlet numbers by fascia, and type, 2001-05
- European outlet numbers by country and fascias
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- Figure 54: Cortefiel: Number of company-owned outlets by country, 2003/04 and 2004/05
- Figure 55: Cortefiel: Number of company-owned outlets by country and fascia, 2004/05
- Products
- Cortefiel
- Springfield
- Women’secret
- Milano
- Loyalty cards
- E-commerce
- SWOT
- H&M Hennes & Mauritz
- Market share
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- Figure 56: H&M: Group sales as % of all European clothing retailers’ sales, 2000-04
- Figure 57: H&M Sweden: Sales as % of Swedish clothing retailers’ sales, 2000-04
- Figure 58: H&M Germany: Sales as % of German clothing retailers’ sales, 2000-04
- Background
- History and ownership
- From Västerås to West Coast
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- Figure 59: H&M Hennes & Mauritz: International expansion record, 1964-2005
- New countries…
- …and new formats
- Direct control
- Mail order division
- Financial data
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- Figure 60: H&M Hennes & Mauritz: Financial performance, 2000-04
- Sales performance by country
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- Figure 61: H&M Hennes & Mauritz: % change in local currency sales by country, 2002/03-2003/04
- Figure 62: H&M Hennes & Mauritz: Relative sales importance by country, 1999/2000 and 2003/04
- Future growth
- Outlets
- Store numbers
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- Figure 63: H&M Hennes & Mauritz: Outlet data, 2000-04
- Figure 64: H&M Hennes & Mauritz: Sales versus outlet growth by country, 2000/01-2003/04
- User friendly stores
- Range of sizes
- Concept stores
- Future expansion
- Products
- The offer…
- …and communicating it
- Sourcing and lead times
- Buying functions split
- Customer loyalty card
- Home shopping
- SWOT
- Grupo Inditex
- Market share
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- Figure 65: Grupo Inditex: Spain – sales as % of all clothing retailers’ sales, 2000/01-2004/05
- Figure 66: Grupo Inditex: Europe – sales as % of all clothing retailers’ sales, 2001/02-2004/05
- Background
- History
- New fascias
- International expansion
- Innovative vertically-integrated model
- Financial data
- Track record
- 2004/05 results
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- Figure 67: Grupo Inditex: Financial performance, 2001-05
- Like-for-like sales growth
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- Figure 68: Grupo Inditex: Like-for-like sales growth, 1998/99-2004/05
- Financial performance by fascia
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- Figure 69: Grupo Inditex: Sales performance by fascia, 2001-05
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- Figure 70: Grupo Inditex: Operating profit performance by fascia, 2003-05
- Sales performance by geographic region
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- Figure 71: Grupo Inditex: Consolidated sales by geographic region, 2001/02-2004/05
- Sales in selected European markets
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- Figure 72: Grupo Inditex: Estimated sales in key European markets, 2004/05
- Outlets
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- Figure 73: Grupo Inditex: Outlet and country numbers, 2001-05
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- Figure 74: Grupo Inditex: Outlet data, 2001-05
- Figure 75: Grupo Inditex: Outlet data by fascia, 2002-05
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- Figure 76: Grupo Inditex: Average store size by fascia, 2004/05
- Figure 77: Grupo Inditex: Store numbers and space by fascia, 2004/05
- Franchises and joint ventures
- European store data
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- Figure 78: Grupo Inditex: Outlet data by European market, January 2005
- Expansion plans
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- Figure 79: Grupo Inditex: Forecast number of store openings, 2005/06
- Products
- Zara
- Bershka
- Massimo Dutti
- Pull and Bear
- Stradivarius
- Oysho
- Kiddy’s Class
- Zara Home
- Pricing
- E-commerce
- SWOT
- Mango
- Market share
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- Figure 80: Mango: Sales as % of Spanish clothing retailers’ sales, 2000-04
- Background
- History
- The brand
- Logistics
- Franchising
- Outlook
- Financial data
- Five year performance
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- Figure 81: Mango: Sales performance, 2000-04
- Latest full-year results
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- Figure 82: Mango: Domestic and international retail sales mix, 2000-04
- Retail sales by selected European market
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- Figure 83: Mango: Retail sales in selected European markets, 2004
- 2005 outlook
- Outlets
- Stylish stores
- Expansion fever
- Focus on franchise
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- Figure 84: Mango: Outlet data, 2000-04
- Figure 85: Mango: Outlet data by European market, July 2004 and March 2005
- Non-European activities
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- Figure 86: Mango: Non-European stores network, July 2004 and March 2005
- Products
- Marketing
- Logistics
- E-commerce
- SWOT
Mini Company Profiles
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- Adolfo Dominguez
- Market share
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- Figure 87: Adolfo Dominguez: Sales as % of Spanish clothing specialists' sales, 2000-04
- Background
- Financial data
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- Figure 88: Adolfo Dominguez: Financial performance, 2000-04
- Outlets
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- Figure 89: Adolfo Dominguez: Outlets, 2000-04
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- Figure 90: Adolfo Dominguez: European stores excluding Spain
- Chicco Artsana
- Background
- Financial data
- Outlets
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- Figure 91: Chicco Artsana: Number of outlets by country, 2003 and 2004
- Diramode (Pimkie)
- Background
- Financial data
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- Figure 92: Diramode: Pimkie sales, 2000-04
- Outlets
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- Figure 93: Pimkie: Outlet data, April 2005
- Etam Développement
- Market share
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- Figure 94: Etam Développement France: Share of all French specialist clothing retailers’ sales,
- Background
- Financial data
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- Figure 95: Etam Developpement: Financial performance, 2000-04
- 2004 results
- Outlets
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- Figure 96: Etam: Outlet numbers by country, 2003 and 2004
- IC Companys
- Background
- Financial data
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- Figure 97: IC Companys: Financial performance, 1999/2000-2003/04
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- Figure 98: IC Companys: Sales by country, 2002/03-2003/04
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- Figure 99: IC Companys: Sales performance by brand, 2002/03-2003/04
- Outlets
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- Figure 100: IC Companys: Concept store numbers by country, June 2004
- Brands
- Induyco
- Background
- Financial data
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- Figure 101: Grupo Induyco: Estimated sales performance, 2002-04
- Outlets
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- Figure 102: Induyco: Outlet data, 2003 and 2004
- Macmoda
- Background
- Financial data
- Outlets
- Mothercare
- Market share
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- Figure 103: Mothercare: UK – sales as % of all clothing retailers’ sales, 2000-04
- Background
- Financial data
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- Figure 104: Mothercare: Financial performance, 2001-05
- Outlets
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- Figure 105: Mothercare Plc: Outlet numbers, 2001-05
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- Figure 106: Mothercare – Number of international stores by country (excl. UK), 2004 and 2005
- Products
- Operations
- New Yorker
- Market share
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- Figure 107: New Yorker Germany: Estimated share of all German specialist clothing retailers’ sales,
- Background
- Financial data
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- Figure 108: New Yorker: Estimated sales performance, 2000-04
- Outlets
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- Figure 109: New Yorker: Outlet data, 2000-04
- Figure 110: New Yorker: Outlets and estimated sales by country, 2004
- Vivarte
- Background
- Financial data
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- Figure 111: Vivarte: Sales performance, 1999-2003
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- Figure 112: Vivarte: Operating profits and margins, 1999-2003
- Outlets
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- Figure 113: Vivarte: Outlet data, 1999-2003
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- Figure 114: Caroll: Store network, 2002 and 2003
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- Figure 115: Kookaï: Store network, 2001/02 and 2002/03
- Figure 116: Kookaï: European outlet network, June 2003 and May 2005
- Creeks/Liberto
- Products
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