Cos to open second Sydney store
Cos, which stands for ‘Collection of Style’, is H&M’s second largest brand, having launched in 2007. The new Sydney store will anchor the retail component of the newly redeveloped 5 Martin Place, which is owned by Dexus, Canada Pension Plan Investment Board, and Cbus Property. Inside Retail PREMIUM can exclusively reveal the store is expected to open in November, with the tenancy comprising 567sqm.
Cos confirmed to Inside Retail PREMIUM this week it will open at 5 Martin Place, revealing the store will house its womenswear, menswear, and childrenswear collections. Cos is the first retail tenant to be officially announced, with the deal brokered by Dexus’ internal retail leasing team. A leasing callout is underway for other retail tenants.
Cos first opened in Australia in November last year in Melbourne’s The Strand shopping centre on Elizabeth St, which was also its first store for the southern hemisphere. The Cos brand has a slightly older target market than the main H&M brand, with higher price points and a more minimalist aesthetic to reflect this positioning.
Last year, Cos opened stores in six new markets – Switzerland, Portugal, Korea, Japan, the US, and Australia. Cos has around 110 stores in 24 countries, and it also operates online stores in 18 countries in Europe and the US.
Marie Honda, MD of Cos, told Inside Retail PREMIUM, at the time of Cos’ opening at The Strand in November 2014, that the premium fashion retailer was focusing on expansion within its existing markets, including Australia. Honda said e-commerce was also a channel the retailer was planning longer term in Australia.
The new Cos store will be down the road from sister brand, H&M, which will open one of its largest stores in the world – a three-level, 5000sqm flagship in Pitt St Mall’s Glasshouse – as part of the building’s $30 million redevelopment. The historic facade of the Glasshouse building will be retained and will become H&M’s shop front. Inside Retail PREMIUM understands H&M at the Glasshouse is slated to open in October.
H&M made its Australian debut last year in April at Melbourne’s iconic GPO building. The 5000sqm store is one the biggest in the world for the brand, occupying three levels and offering H&M’s full men’s, women’s, and children’s fashion ranges, as well as its homewares line. It opened its second store, and first Sydney store, at Macquarie Centre in North Ryde in October as part of the shopping centre’s $440 million redevelopment.
This year, H&M opened its first site in Brisbane at Indooroopilly Shopping Centre in March, spanning more than 2500sqm across one level. A second store, at 170 Queen St in Brisbane’s CBD, is expected to open in late 2015. The value retailer also announced earlier this year it would open its first store in Western Australia, at Perth’s Lakeside Joondalup Shopping City, in the second half of the year.
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