Discount fashion retailer TK Maxx, the UK subsidiary of US discounting giant TJX Companies, is embarking on a European expansion, opening two shops in the Netherlands next month. It has appointed Healey & Baker to advise it in the Netherlands and Belgium.
TK Maxx has opened 31 stores in the UK since March 1994, and one in Dublin. The company sells clothes at up to a 60% discount, under the “labels for less” banner, from stores of around 2,300 m2.
The first Dutch shops will be in Rotterdam and Alkmaar, which have been secured on a series of five-year leases. In Rotterdam, TK Maxx has taken a 2,520 m2 shop in De Grote Lijn at Crispijnstraat 11, while in Alkmaar, it has taken 2,100 m2 at Noorder Arcade 130.
A further eight shops are due to open in the UK this year, including stores at Team Valley, Gateshead, and Meadow Retail Park, Edinburgh next month. TK Maxx is looking at other continental countries, but has not acquired any shops to date. It expects to open its first Belgian stores next year.
TJX Companies operates 580 TJ Maxx stores and 460 Marshalls stores in the US and 76 Winner stores in Canada. The group’s turnover last year was more than $7bn.
