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Germany apparel retailers market: TK Maxx seeing fastest growth

Press Release   •   Aug 13, 2013 16:26 BST

Overall, in 2012 the number of outlets in the Germany apparel retailers market saw a negligible increase to reach 32,800, and the development of the total sales area in apparel specialist retailers in Germany was also positive. The ongoing larger number of openings compared with closures can be attributed to good economic development and consumer confidence, as well as constant innovation regarding store brands and store formats.

The majority of outlets continued to focus on the sale of clothing, with complementary sales of accessories such as fashion jewellery, handbags and belts, for example. However, there are also a large number of footwear chains present, most of which also offer handbags and other leather accessories to complete their product range. Sales of adults' clothing is much more important than children's clothing, which of course is no surprise, bearing in mind the low and constantly declining birth rate in Germany.

The US chain TK Maxx, which entered the German market in 2007, and already had 70 outlets in 2012, saw the fastest growth during the review period. TK Maxx's business concept of offering last season's branded goods at discount prices attracted German consumers' interest, leading to rapid growth, which is expected to continue in the medium term. Consumers like TK Maxx for the high value for money that they receive.

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