US retail chains look to get a foothold in the British market
VICTORIA’S Secret is crossing the Atlantic as part of a wave of US companies looking to establish a foothold in the UK and Europe.
The US lingerie retailer is owned by Limited Brands, which has announced plans for international expansion.
It follows news that Gap-owned Banana Republic, the smart-casual clothing chain which already has a store on Regent Street, is also looking to expand its UK business.
Limited also owns the cosmetics chain Bath & Body Works, which it is looking for a franchise partner for.
Limited wants a slice of the UK’s £3.4bn underwear market, and intends to launch a flagship Victoria’s Secret store in London, as well as an online site for all of Europe.
Meanwhile, Banana Republic is understood to be very close to opening a store near to St Paul’s Cathedral at One New Change.
It also intends to open a store in Brent Cross this month, and another in Covent Garden next year.