Urban Outfitters Boosts Presence in Spain, Opens Third Valencia Location

Urban Outfitters opens its third store in Spain. The U.S. fashion company specializing in urban style has increased its commitment to the Spanish market with a third store in the country. Until now, the company had only two establishments, one in Madrid and another in Barcelona, to which it adds a third store in Valencia.

The opening, mediated and confirmed by the real estate consultant Cbre, represents the expansion of Urban Outfitters beyond the two major cities of the country, which arrived in 2014 through its first physical store in Spain, specifically in the city of Barcelona. The store, the company’s third in the country, will be located in the Plaza del Ayuntamiento in the Valencian capital, on the corner of Marqués de Sotelo street.

The store has more than 10,000 square feet, spread over two floors and a basement: 3,854 square feet on the ground floor and basement and 4,606 square feet on the second floor. Although the store is currently being refurbished, Urban Outfitters expects to open before the Christmas season.

Urban Outfitters has two other stores in Spain, in Madrid and Barcelona

Until a year ago, the same store had been occupied by Valencia CF for more than a decade. The city’s soccer team had established the official club store there, until it was moved to the commercial street of Colón, to premises just over half the size of the one in the square.

Urban Outfitters’ expansion in Spain coincides with a good financial moment for the group as a whole. In its last full fiscal year, which ended on January 31st, the U.S. company posted a 7.7% year-on-year increase in sales to $5.55 billion. The company’s net profit, meanwhile, rose 40% to $402.5 million.

In the wake of these results, Urban Outfitters announced its reorganization plan for the current year, marked by 58 openings and some twenty closures of its various chains. At year-end, the company had 730 international outlets, including Urban Outfitters, Anthropologie and Free People.