Overseas

Spain, a consumer paradise
Thanks to long term bank loans extending across 30 or even 40 years, 90% of Spanish people own their own homes and are enjoying the benefits of consumer credit. This is great news for speciality retailers!

Forecasts predict 18 % growth in consumer spending over the next five years in Spain and Spanish retailers have reason to be optimistic. For more than twenty years, leading Spanish brands such as Zara, Mango and Blanco have built international empires outside of Spain. They have fiercely competed against one another, rapidly opening high street stores and out of town retail outlets. "Traditional independent multibrand retailers have to reinvent themselves or risk disappearing from the Spanish retail landscape altogether", comments Carmen Martinez Iturri, Country Manager for VCSTIMELESS Iberia.