1. Clothing Retail, 2012 By Isabel Cavill Senior Retail Analyst Planet Retail Ltd | December 2011 Following the seams of globalisation

2. 2 Clothing Retail, 2012 Isabel Cavill Senior Retail Analyst Isabel.Cavill@planetretail.net Clothing chains are the most international of retailers and the pace of globalisation among the major chains is not showing any signs of slowing down. This report will examine why the leading clothing specialists are looking to international for growth, how they are performing in the key markets of China and India and which markets are on the radar for future growth. All images ©Planet Retail Ltd unless otherwise stated.

3. 3 1.Why retailers are internationalising 2.Key markets i.China & India ii.Beyond BRIC - South-East Asia iii.Southern Hemisphere iv.Finding a niche 3.Summary Contents

4. 4 Why retailers are internationalising © Mi-Enno / spreadshirt.co.uk 1

5. 5 Economic forecasts have been revised downwards which spells a difficult 2012 ahead. Global activity has weakened and become more uneven, confidence has fallen sharply recently, and downside risks are growing. Why retailers are internationalising1 “In this situation, it is extra important to have a long-term perspective.” “We remain concerned about the economic pressure on our customers.” “The global economy is in a dangerous new phase.”