Spanish brands focus expansion on Mexico, US and UAE

Spanish fashion labels prefer to expand into countries like Mexico, the United States and the United Arab Emirates, while China and Russia are no longer top-priority destinations due to their declining economies.

A study by France's Vente-Privée and Spain's Moda.es, which gathered data from 300 fashion businesses based in Spain, revealed the rate of companies considering entering new markets dropped for second consecutive year. The report also showed a recovery in Spain’s domestic market.

In 2013, 71% of the companies were thinking of opening into new markets, which decreased to 68% in 2014 and 57% this year.

Spanish fashion labels are expanding to Mexico, Chile, Colombia, United Arab Emirates, United States, France and Germany – with Italy, the UK and Saudi Arabia as most desirable markets.

On the other hand, China’s growth slowdown and Russia’s currency devaluation have caused these countries to disappear from the top 10 list of priority destinations for Spanish fashion retailers.