BGN Entrepreneur

Falling high street rentals and the low value of the pound are making UK increasingly attractive to Spanish retailers, who are suffering a tough time in their home market, with consumer spending in freefall.
Zara, Massimo Dutti, Desigual and Mango all have plans to expand in 2010 in the UK. Other Spanish companies, including Tous, the jeweler and accessories company; Camper, the designer shoe retailer; and Neck and Neck, the children’s clothing company, are planning for new stores as well.
Paola Cuneo, of Think London, a government body that encourages foreign companies to come to the capital, said that, apart from the financial incentives, another reason is the number of tourists and shoppers who come here. Over Christmas, shoppers spent £1 billion in two weeks. It is attractive to lots of companies.
According to the Spain Official Credit Institute, Spain is facing its worst economic crisis for decades. Spanish shops were offering 50% discounts to tempt shoppers in the January sales.

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