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Wednesday, March 22, 2023

Why entering Mexico – WWD

The fashion brand Cos, owned by the H&M Group, enters Mexico.

The London-based men’s and women’s business will open a flagship store in Mexico City in the summer of 2023, marking the brand’s first presence in the country and a broader strategy to scale the business globally through New markets.

Located in the open-air Antara shopping mall in Polanco, the 1,594-square-foot space will represent the brand’s new, more sustainable store design concept, and will feature the full range of minimalist men’s and women’s clothing and accessories.

“We are constantly exploring new countries and locations to expand the Cos brand and see the long-term potential for locations throughout the Americas. Mexico feels like the next logical step for us and provides us with a gateway for future growth throughout the region,” Katie Reeves, CEO of Cos North America, told WWD.

The location will open with the Summer 2023 collection of elevated essentials designed to last more than one season. The brand’s environmental focus will also be reflected in the store’s design, which will feature bamboo cabinets, recycled acrylic display cases and a rail system made from recycled aluminum. The concept is designed to be maintained, repaired and reused.

“We knew we wanted to find a place in Mexico City and the Polanco neighborhood is one of the key places that the team and I visited last year,” said Reeves. “Our insights show that we have customers who frequent this area, which makes a lot of sense based on the local cultural destinations, high-end designer retailers and restaurants. Our brand culture is inspired by the architecture, art and design intrinsic to global destinations like Mexico City. We believe that securing a prime retail location in one of the most significant and important shopping centers in the market will serve us well.”

Since its launch in London in 2007, Cos has spread across Europe, Asia-Pacific, North America and the Middle East. Today the brand has a portfolio of 264 stores, spanning 48 physical markets, 39 online markets and select wholesale partners.

Unlike fast-fashion retailer H&M, which has struggled recently with lower-than-expected third-quarter sales, the group’s elevated Cos and Arket brands have been more resilient, analysts say.

Cos turned the spotlight on the North American market during New York Fashion Week in September, showing off her fall collection to an audience that included Anderson .Paak, Angus Cloud and Emily Ratajkowski.

For the first time, the brand introduced nightwear, including a black pleated shirtdress and a coin-shaped collage dress. Outerwear was also a strong focus, with a sleek leather trench coat from the new Cos Atelier collection priced at $890, pushing the brand into the contemporary fashion category.

“Our first expansion into the US market was through a pop-up with Opening Ceremony in 2014, which was a great opportunity to test the market before opening our first store in the US in 2014, followed by our first store in Canada. in 2015,” Reeves said. “North America is our youngest region and we have a clear channel strategy for growth. It is a region with a lot of potential ahead.”

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