A growing number of overseas retailers are taking a keen interest in the British market, an expert has suggested.
Speaking to the Retail Gazette, Clearwater Corporate Finance consumer and retail specialist Gareth Iley noted that while some major British chains had failed to establish themselves globally in the past, key brands had become “increasingly international” in recent years.
“Up until fairly recently retail was more geographic specific, with many companies that tried to expand internationally, such as Marks & Spencer, finding that it did not work out,” he explained. “A number of UK retail assets are now owned by private equity funds which are American or have their origins in America.”
While US firms have seized on the lingering weakness in the British retail sector as an investment opportunity for the future, European groups such as Italian shoe retailer Carlo Pazolini and Portuguese fashion chain Sacoor Brothers have also sought to muscle in.
In August, supermarket giant Tesco confirmed it was seeking a buyer for its Japanese division, having failed to make sufficient headway in the country’s retail market.
