The proposed investment opportunity is for the expansion of the Nordstrom brand in Madrid,… 1 answer below »

The proposed investment opportunity is for the expansion of the Nordstrom brand in Madrid,…
1 answer below »The proposed investment opportunity is for the expansion of the Nordstrom brand in Madrid, Spain – bringing the Nordstrom Rack experience of high-end service with unique clothing finds at affordable prices to one of the world’s fastest growing fashion meccas. (FashionUnited, 2022) This project is to begin with a flagship store located on Gran Via, which is not only the heart of Madrid but the heart of the shopping universe in Spain. Gran via is one of the most well-known streets in Spain if not Europe. It is where locals and tourist gather to experience the plethora of shopping that Madrid has to offer. While this location does offer competition, as it includes multinational brands such as H7M, PriMark, Zara, and others, it also supports the fact that the targeted consumers are western style customers that will likely shop at Nordstrom Rack. This project will also entail three Nordstrom Local service hubs and a distribution warehouse. Spain ranks in the top 5 of European fashion/apparel markets with one of the country’s biggest strengths of textiles and apparel, contributing 2.8% to the country’s GDP. (The Corner, 2020) It’s a formidable selection for Nordstrom’s long-term growth strategy “Closer To You.” (Dowd, 2021) The main goal of this expansion is to address the future goals of this company which include improving profitability, increasing market share, better connecting its physical and digital inventory, and broadening the reach of Nordstrom Rack by expanding the aperture of who it serves, as well as where and how it serves them, with a particular focus on increasing the breadth of customers at Nordstrom Rack. (Nordstrom, 2021) The company expects Nordstrom Rack to contribute approximately$2 billionin incremental sales over the course of this multi-year initiative. Taking these factors into consideration, the capital funding investment being sought is $80,000,000 US to open a retail location in the center of Madrid, specifically the most popular shopping area called Gran Via, three Nordstrom Local service hubs strategically through Alcala de Henares, Alcobendas, and Chamartin. Then finally, a distribution warehouse/fulfillment center in a rural location of Madrid
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