It is not so many years ago that Australia was considered a bit of a back water in global retailing terms with a population too small to attract the big players. Now they are beating down our doors to become part of the Australian retail market and the latest is none other than UK's iconic department store Marks & Spencer.
The Australian Financial Review is reporting that Marks & Spencer are holding discussions with east coast shopping centres to evaluate opportunities. M&S looked at Australia back in 1998 in partnership with Just Jeans Holdings but a declining A$, and financial difficulties in Asia generally, put a stop to their plans. It is expected that M&S will concentrate on fashion and homewares in Australia.
Another retailing icon to prepare for our shores is Brooks Brothers the giant US clothing retailer who boast that they they have clothed 39 out of 44 US Presidents. Oroton is bringing Brooks Brothers to Australia as part of its move to cover the loss of the Ralph Lauren licence late last year. Brooks Brothers is famous for its suits and has over 500 stores worldwide.