Clothing Retailing - Spain - September 2007

Table of Contents

• Market in BriefThe future
• Market performance
• Sector performance
• Channels of distribution
  • Figure 1: Spain: Clothing market -- channels of distribution, 2006
• Market leaders
• Consumer behaviour
• Report Scope
• Technical notes
• Financial definitions
• Currencies
  • Figure 2: Exchange rates: National currencies against the Euro, 2002-06
• Country codes
• VAT
  • Figure 3: Europe: Standard VAT rates, 2006
• Other abbreviations
• Broader Market Environment
• Growing population
  • Figure 4: Spain: Population trends, 2002-06
• But ageing too
  • Figure 5: Spain: Population, by age group, 2002, 2006 and 2010
• Steady economic growth
  • Figure 6: Spain: Gross domestic product, 1996-2006
• But times are changing
• Unemployment to fall further
• The Market in Context
• Key findings
• Consumer spending buoyed by booming housing market
  • Figure 7: Spain: Consumer expenditure, 1995-2006
  • Figure 8: Spain: Consumer spending growth, 1997-2006
• Clothing a sluggish performer
  • Figure 9: Spain: Consumer spending on selected categories of goods, 2001-05
• Some price inflation
  • Figure 10: Spain: Consumer price index for selected goods, 2001-06
• Sector Size and Forecast
• Key findings
• Economic outlook
• Clothing retailers' prospects
• Price-led segment to grow
• Shaking things up
• Retail sales forecasts
  • Figure 11: Spain: Estimated clothing specialists' sales, 2002-12
  • Figure 12: Spain: Clothing specialists as % all retail sales, 2002-12
• Past
• European Consumer Context
• Introduction
• Comparison of consumer typologies across Europe
  • Figure 13: Clothing consumer typologies, by country, 2006
• Germany
  • Figure 14: Clothing consumer typologies in Germany compared to four-country average, 2006
• France
  • Figure 15: Clothing consumer typologies in France compared to four-country average, 2006
• Great Britain
  • Figure 16: Clothing consumer typologies in UK compared to four-country average, 2006
• Spain
  • Figure 17: Clothing consumer typologies in Spain compared to four-country average, 2006
• Comparison of agreement with clothing lifestyle statements
  • Figure 18: Agreement with clothing lifestyle statements, by country, 2006
• France
  • Figure 19: Top five clothing lifestyle statements, France, 2006
• Germany
  • Figure 20: Top five clothing lifestyle statements, Germany, 2006
• Spain
  • Figure 21: Top five clothing lifestyle statements, Spain, 2006
• UK
  • Figure 22: Top five clothing lifestyle statements, GB, 2006
• The Consumer -- Where They Buy Clothes
• Where people buy
  • Figure 23: Spain: Outlet where clothing purchased, June 2007
• Market positioning
  • Figure 24: Spain: Market positioning of major clothing retailers, June 2007
• Who buys where -- specialists
  • Figure 25: Spain: Specialist outlets where clothing purchased, by age, May 2007
  • Figure 26: Spain: Where clothing purchased, by demographics, June 2007
• Who buys where -- generalists
• Men in their comfort zone
• Hypermarkets catch the family shopper
  • Figure 27: Spain: Generalist outlets/channels where clothing purchased, by age, May 2007
• El Corte Ingles usage rises with incomeHypermarkets and markets appeal to the less well off
  • Figure 28: Spain: Generalist outlets/channels where clothing purchased, by income, May 2007
  • Figure 29: Spain: Where clothing purchased, by demographics, June 2007
• The Consumer -- Motivations and Shopping Habits
• Demographic characteristics of consumer typologies
  • Figure 30: Practical, Stylish, Well-dressed typology groups, by age -- Spain, 2006
  • Figure 31: Practical, Stylish, Well-dressed typology groups, by income -- Spain, 2006
  • Figure 32: Spain: Practical, Stylish, Well-dressed typology groups, by gender, age, family income, region, working status and presence of children, Spain, 2006
• ' Conservative' approach
• Convert more female visitors into buyers
• Direct correlation between interest and age
• I want it all
  • Figure 33: Shopaholics, Fashion Conscious, Individualists, Label Admirers and Big Spenders typology groups, by age -- Spain, 2006
• Money talks with individualists and label-admirers
  • Figure 34: Spain: Shopaholics, Fashion Conscious, Individualists, Label Admirers and Big Spenders typology groups, by gender, age, family income, region, working status and presence of children, Spain, 2005
• Channels of Distribution
  • Figure 35: Spain: Clothing market -- channels of distribution, 2006
• Clothing specialists
• Department and variety stores
• Textile specialists
• Grocers
• Home shopping
• Market stalls
• Retail Competitor Analysis
  • Figure 36: Spain: Leading clothing specialists, 2006/07
• Market shares
  • Figure 37: Spain: Leading clothing specialists' market shares, 2006
• Evaluation
  • Figure 38: Spain: Clothing retailers, evaluation, 2006/07
• Retailer Profiles
• Arcadia Group
  • Figure 39: Arcadia Group: Sales as share of UK clothing specialists' sales, 2002-06
• Strategic evaluation
• Background
• Financial performance
  • Figure 40: Arcadia Group: Group financial performance, 2002-06
• Store portfolio
  • Figure 41: Arcadia Group: Outlet numbers, 2001 and 2003-06
  • Figure 42: Arcadia Group: European outlet numbers by fascia, July 2007 and 2005-06 total
• Retail offering
• Market positioning/brands
• Brands
  • Figure 43: Arcadia Group: Age positioning and product offer by fascia, 2007
• Pricing
• Service
• Operational issues
• Advertising and marketing
  • Figure 44: Arcadia Group: Main media advertising spend, 2002-06
  • Figure 45: Arcadia Group: Main media advertising by media used, 2006
• e-commerce and home shopping
  • Figure 46: Arcadia Group: Websites, 2007
• Benetton Group
  • Figure 47: Benetton Group: Sales as share of clothing specialists' sales in Europe, 2002-06
• Strategic evaluation
• Background
• Financial performance
  • Figure 48: Benetton Group: Group financial performance, 2001-06
  • Figure 49: Benetton Group: Sales by geographic area, 2002-06
  • Figure 50: Benetton Group: Sales by geographical area, 2006
  • Figure 51: Benetton Group: Sales by commercial activitiy, 2002-06
• Store portfolio
  • Figure 52: Benetton Group: Outlet data, 2002-06
• Retail offering
• Market positioning
• Brands
  • Figure 53: Benetton Group: Sales by brand, 2006
• Product offer
• Pricing
• Operational issues
• Advertising and marketing
• e-commerce and home shopping
• C&A
  • Figure 54: C&A: Sales as share of clothing specialists' sales in Europe, 2002-06
  • Figure 55: C&A: German sales as share of clothing specialists' sales in Germany, 2002-06
• Strategic evaluation
• Background
• Financial performance
  • Figure 56: C&A: Group financial performance, 2002-06
  • Figure 57: C&A: Sales in European markets, 2005 -06
  • Figure 58: C&A: Share of group sales by market, 2006
• Store portfolio
  • Figure 59: C&A: European outlet data, 2003-07
  • Figure 60: C&A: Share of European outlets, by country, 2006
  • Figure 61: C&A: Total number of outlets, by European country, 2003-07
  • Figure 62: C&A: Number of European outlets by fascia, Spring 2006 and 2007
• Retail offering
• Market positioning
• Brands
• Product offer
• Pricing
• Operational issues
• Advertising and marketing
• e-commerce and home shopping
• Grupo Cortefiel
  • Figure 63: Grupo Cortefiel: Sales as share of clothing specialists' sales in Europe, 2002-06
• Strategic evaluation
• Background
• Financial performance
  • Figure 64: Cortefiel: Financial performance, 2002/03-2006/07
  • Figure 65: Cortefiel: Sales by fascia, February 2007
  • Figure 66: Cortefiel: Sales in company-owned stores by fascia, 2003-07
• Store portfolio
  • Figure 67: Grupo Cortefiel: Company-owned outlet data, 2001-05 and June 2007
• Outlet numbers by fascia and type
  • Figure 68: Cortefiel: Outlet numbers by fascia, and type, 2002-05 and June 2007
  • Figure 69: Grupo Cortefiel: Spanish outlets by fascia, June 2007
  • Figure 70: Cortefiel: Breakdown of company-owned, franchises and concessions, February 2002-05, and June 2007
• European operations
  • Figure 71: Cortefiel: Number of European outlets by country and fascia, June 2007
  • Figure 72: Cortefiel: European outlets by fascia, June 2007
  • Figure 73: Cortefiel: Number of company-owned outlets by country, 2004-05 and June 2007
• Retail offering
• Market positioning
• Product offer by brand
• e-commerce
• H&M Hennes & Mauritz
  • Figure 74: H&M Hennes & Mauritz: Sales as share of clothing specialists' sales in Europe, 2002-06
  • Figure 75: H&M Hennes & Mauritz: Sales as share of clothing specialists' sales in Sweden, 2002-06
  • Figure 76: H&M Hennes & Mauritz: Sales as share of clothing specialists' sales in Germany, 2002-06
  • Figure 77: H&M Hennes & Mauritz: Sales as share of clothing specialists' sales in the UK, 2002-06
• Strategic evaluation
• Background
  • Figure 78: H&M Hennes & Mauritz: International expansion record, 1964-2007
• Control and support
• Financial performance
  • Figure 79: H&M Hennes & Mauritz: Group financial performance, 2001/02-2005/06
  • Figure 80: H&M Hennes & Mauritz: Sales by country, 2001/02-2005/06
  • Figure 81: H&M Hennes & Mauritz: UK financial performance, 2001/02-2005/06
  • Figure 82: Hennes & Mauritz: Relative sales importance by country, 2001/02 and 2005/06
  • Figure 83: Hennes & Mauritz: Change in countries' share of group sales, 2001/02-2005/06
  • Figure 84: Hennes & Mauritz: Sales versus outlet growth by country, 2001-05
  • Figure 85: Hennes & Mauritz: Percentage change in local currency sales and number of outlets by country, 2004/05-2005/06
• Store portfolio
  • Figure 86: H&M Hennes & Mauritz: Outlet data, 2001/02-2005/06
  • Figure 87: Hennes & Mauritz: Share of total new outlets opened by country, 2001/02-2005/06
  • Figure 88: Hennes & Mauritz: Sales per outlet by country, 2005/06
• Store concept
• Concept stores
• Retail offering
• Market positioning
• Brands/product offer
  • Figure 89: H&M own brand portfolio, 2007
• One-off collections
• Pricing
• Operational issues
• Advertising and marketing
  • Figure 90: H&M: Advertising spending in the UK, 2006
• e-commerce and home shopping
• Grupo Inditex
  • Figure 91: Grupo Inditex: Sales as share of clothing specialists' sales in Europe, 2002-06
  • Figure 92: Grupo Inditex: Sales as share of clothing specialists' sales in Spain, 2002-06
• Strategic evaluation
• Background
• Financial performance
  • Figure 93: Grupo Inditex: Financial performance, 2002/03-2006/07
• Like-for-like sales growth
  • Figure 94: Grupo Inditex: Sales growth by type, 2002/03-2006/07
  • Figure 95: Grupo Inditex: Estimated sales in key European markets, 2004/05-2006/07
  • Figure 96: Grupo Inditex: Consolidated sales by geographic region, Year to January 2002/03-2006/07
  • Figure 97: Grupo Inditex: Sales performance by fascia, 2002/03-2006/07
• Operating profit by fascia
  • Figure 98: Grupo Inditex: Operating profit performance by fascia, 2002/03-2006/07
  • Figure 99: Grupo Inditex: Sales and operating profit % growth rates by fascia, 2002/03-2006/07
• Store portfolio
  • Figure 100: Grupo Inditex: Outlet and country numbers, 2002/03-2006/07
  • Figure 101: Grupo Inditex: Outlet data, 2002/03-2006/07
  • Figure 102: Grupo Inditex: Outlet numbers by fascia, 2002/03-2006/07
  • Figure 103: Grupo Inditex: Outlet data by fascia, 2002/03-2006/07
  • Figure 104: Grupo Inditex: % change in sales and sales area by fascia, 2002/03-2006/07
  • Figure 105: Grupo Inditex: Average store size by fascia, 2006/07
• European outlet data by country
  • Figure 106: Grupo Inditex: Outlet data by European market, year end to January 2002/03-2006/07
  • Figure 107: Grupo Inditex: Outlet data by European market and by fascia, January 2007
• Franchises and joint ventures
  • Figure 108: Grupo Inditex: Franchises as % of stores by geographic region, 2006/07
  • Figure 109: Grupo Inditex: Franchises as % of group sales and stores, by fascia, 2006/07
  • Figure 110: Grupo Inditex: Franchises as % of group sales and stores, 2002/03-2006/07
  • Figure 111: Grupo Inditex: Store expansion plans, 2007/08
• Retail offering
  • Figure 112: Grupo Inditex: Age positioning and product offer by fascia, 2007
• Market positioning, brands and pricing
• Operational issues
• Advertising and marketing
• e-commerce and home shopping
• Mango Group
  • Figure 113: Mango Group: Sales as share of European clothing specialists' sales, 2002-06
  • Figure 114: Mango Spain: Sales as share of clothing specialists' sales, 2002-06
• Strategic evaluation
• Background
• Financial performance
  • Figure 115: Mango Group: Group financial performance, 2003-07
• Increasing exposure to international markets
  • Figure 116: Mango Group: Domestic and international retail sales mix, 2003-07
• International business goes from strength to strength
• Company' s sales and stores growth
  • Figure 117: Mango Group: Sales and store growth, 2004-06
• Retail sales by selected European market
  • Figure 118: Mango: Estimated retail sales in selected markets, 2006
• Store portfolio
  • Figure 119: Mango Group: Outlet data, 2002-06
  • Figure 120: Mango Group: Store development, 2001-06
  • Figure 121: Mango: Share of European and non-European stores, August 2007
  • Figure 122: Mango: Airport operations, August 2007
  • Figure 123: Mango: Outlet data by European market, July 2004, March 2005, August 2006 and August 2007
  • Figure 124: Mango: Number of stores by selected European country, March 2005, August 2006 and August 2007
  • Figure 125: Mango: Share of European stores by country, August 2007
• Non-European activities
  • Figure 126: Mango: Non-European stores network, July 2004, March 2005, August 2006 and August 2007
• Mango Canada
• Mango US
• Retail offering
• Market positioning
• Product offer/brands
• New developments
• Pricing
• Advertising and marketing
• e-commerce and home shopping
• Marks & Spencer (M&S)
  • Figure 127: M&S UK: Clothing as % of clothing specialists' sales, 2002-06
• Strategic evaluation
  • Figure 128: M&S: Business targets 2004/05-2007/08 and beyond
• Background
• Financial performance
  • Figure 129: M&S: Group financial performance -- continuing operations, 2002/03-2006/07
  • Figure 130: M&S: UK retail sales by product category, 2004/05-2006/07
  • Figure 131: M&S: Excl-VAT clothing sales, 2002/03-2006/07
  • Figure 132: Marks & Spencer: International sales performance, 2005/06 and 2006/07
• Store portfolio
  • Figure 133: M&S: UK and Republic of Ireland, outlet data, 2002/03-2006/07
  • Figure 134: M&S: European franchised outlet data, 2004-07
• Other international stores
  • Figure 135: M&S: Non-European franchise locations, July 2007
• Retail offering
• Market positioning
• Product offer
  • Figure 136: M&S: product innovations 2006/07
  • Figure 137: M&S: Own brand portfolio, 2007
• Advertising and marketing
• e-commerce and home shopping
• Primark/Penneys
  • Figure 138: Primark/Penneys: UK -- clothing sales as share of all clothing specialists' sales, 2002-06
• Strategic evaluation
• Background
• Financial data
  • Figure 139: Primark/Penneys: Group financial performance, 2001/02-2005/06
• Store portfolio
  • Figure 140: Primark/Penneys: Outlet data, 2002-06
• Overseas expansion
• Store environment
• Retail offering
• Brands/product offer
  • Figure 141: Primark own brand portfolio, 2007
  • Figure 142: Primark: Turnover by product category, 2005/06
• Operational issues
• Advertising and marketing
• e-commerce and home shopping
• Mini Company Profiles
• Adolfo Dominguez
  • Figure 143: Adolfo Dominguez: Sales as share of clothing specialists' sales in Spain, 2002-06
• Background
• Financial performance
  • Figure 144: Adolfo Dominguez: Group financial performance, 2002-06
• Store portfolio
  • Figure 145: Adolfo Dominguez: Outlets, 2002-06
  • Figure 146: Adolfo Dominguez: Store development, 2002-06
  • Figure 147: Adolfo Dominguez: European store portfolio by country, 2006
• Expansion plans
• Focus on megastores
• Asian expansion
• Corners within El Corte Ingles department storesRetail offering
• Market positioning
• Product offer
• Clothing
• Fragrances and skincare
• Accessories
• Brands
• Pricing and advertising
• e-commerce
• Diramode (Pimkie)
• Background
• Financial performance
• Store portfolio
  • Figure 148: Pimkie: Outlet data, 2005 and 2006
• Retail offering
• Market positioning
• Brands
• Product offer and pricing
• Operational issues
• Advertising and marketing
• e-commerce and home shopping
• Etam Group
  • Figure 149: Etam Group: Sales as share of clothing specialists' sales in Europe, 2002-06
• Background
• Financial performance
  • Figure 150: Etam Group: Financial performance, 2001-06
• Store portfolio
  • Figure 151: Etam Group: Outlet data, 2001-2006
  • Figure 152: Etam: Outlet numbers by country, 2003-06
  • Figure 153: Etam: Outlet numbers by brand, 2001-06
• Retail offering
• Products, brands and market positioning
  • Figure 154: Etam: Brands, 2007
• e-commerce
• Grupo Induyco
  • Figure 155: Grupo Induyco: Sales as share of clothing specialists' sales in Spain, 2002-06
• Background
• Financial performance
  • Figure 156: Grupo Induyco: Estimated sales, 2002-06
• Store portfolio
  • Figure 157: Grupo Induyco: Outlet data, 2004 and 2006
• Retail offering
• Market positioning
• Brands and Product offer
• Sfera
• Operational issues
• e-commerce