There is more competition inbound for Australian retailers

There is more competition inbound for Australian retailers. US homewares giant Williams-Sonoma, owner of Pottery Barn, Pottery Barn Kids and West Elm, has unveiled ambitious growth plans in Australia where it will open eight stores this year, staking its claim to an estimated $735 million sales pool being carved up by foreign fashion retailers. It joins overseas department stores H&M, Marks & Spencer and Uniqlo and fashion chains such as Zara, Topshop and Hollister which combined are slated to open more than 100 stores across Australia in the next two years. Already its largest market outside of North America thanks to its e-commerce platform and high brand recognition, Williams-Sonoma set up two stores in Australia last year, its flagship outlet in the new Bondi Junction shopping centre and a West Elm store in Melbourne, and will now quickly plump up its presence. Read more: (VIEW LINK)