The country has seen an increase in the number of overseas retail firms opening up locally-based stores.
Big names such as Spanish clothes chain Zara and the UK's Topshop brand have recently developed shops across Australia, while many other retailers are considering branching out down-under as well.
It is estimated around ten international retailers have opened new operations over the past 18 months as the economy continues to attract positive consumer spending, reports the Sydney Morning Herald.
Interest has also been driven by a number of key inner-city redevelopments, such as Westfield’s Pitt Street Mall project, and the ongoing construction of the Emporium site in central Melbourne.
Alex Alamsyah, director of retail leasing at Knight Frank, explained many of the international brands are looking for large properties to support their first ventures into the Australian marketplace.
"Super brands like Uniqlo, Forever 21, H&M, M&S and so on must have 2,000-3,000 square metre Sydney and Melbourne CBD stores if they were to consider the Australian market," he said.
Last week, Australian department store DJ celebrated the Chinese New Year in a bid to capitalise on the strong interest in the country from Asian tourists.
Posted by Steve Douglas.
