US fashion houses target British market
Two US brands plan to expand on the UK high street despite the slowdown in consumer spending. Urban Outfitters - with a market capitalisation of $4.9bn (£3bn) - said it will double the number of stores it has in Britain and bring new brands to our streets. And, last week, the American designer brand Ralph Lauren signed up to bring its vintage-inspired menswear brand RRL to London. Glen Senk, Urban Outfitters' chief executive, said: "People are spending less so we have a smaller slice of the pie, but we need to focus on the customer."