Desigual to open 450 new stores in Latin America by 2017

Spanish brand Desigual has set its goals. And by 2017 the company plans on 450 new store openings in South America, said Horacio Broggi, Business Director for Desigual Latin America, in an interview with WWD.com.

According to Fashion Mag’s sources, this expansion will be 80% focused on Mexico and Colombia, while the brand slows its growth in Brazil.

Thus, Desigual is focusing on Latin America and new markets in order to restore its double-digit growth. For its first quarter, the Spanish brand - which has a wide presence in the European market and has been therefore unaffected by exchange rates - saw a 6.5% growth, amounting to a total revenue of €273.5 million.

However, this figure is far from its 16% growth recorded in 2014, when Desigual reached a total revenue of €963.5 million. The decline has forced the managers of the brand to optimize their network of establishments after years of expansion… albeit in a rush.