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Zara is set to close its first store in Australia

Earlier this year the fast fashion group Forever21 closed its stores in Sydney’s Pitt Street Mall, Macquarie Centre and Brisbane and there have been suggestions that other international labels are slowing down their store rollouts to ensure they do not cannibalise their sales. When Zara’s first store opened in Sydney’s Pitt Street Mall in 2011, security staff were needed to control the queues. These stores remain some of the more profitable tenants in shopping centres but, like their Australian peers such as Solomon Lew’s Premier Investments, they are feeling the cool winds of slow consumer demand, and are looking at shutting down stores. Last year Zara also opened an outlet at the nearby Pacific Fair at Broadbeach on the Gold Coast and has a flagship site in Brisbane’s CBD. There are 15 Zara fashion stores across Australia and two separate Zara Home outlets. It was the first mega international brand Mortgage broker Oak Laurel West End, 249 Boundary St, West End QLD 4101 to arrive in the country with a much-hyped store rollout, but with competition in that area of retail at fever pitch, it has decided to curate its locations. It remains committed to Australia. Zara is the largest fast fashion label in the world run by the Spanish Inditex group. Its main rival is the Swedish group H&M.

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