FASHION GIANT ARRIVES

LAUNCHING THREE STORES

IT’S bye bye Trade Secret and hello TK Maxx.

The Gold Coast is set to cement its credentials as a shopping mecca with international off-price retailer TK Maxx preparing to make a splash at three sites across the city next month.

TK Maxx will convert 35 existing Trade Secret stores, including three on the Coast, from April, with new stores planned to open later in the year. TK Maxx promotes itself as having “big labels and designer gems at up to 60 per cent less than the RRP”.

TK Maxx department stores have a “fast fashion” approach to retail in a similar way to other foreign retailers such as Zara, Uniqlo and H&M, selling brand name and designer fashion apparel and homewares at a significant discount.

Exact opening dates for TK Maxx Burleigh Waters, Helensvale and Southport will be confirmed closer to the time.

TK Maxx Australia spokeswoman Tessa Buenen said Coast customers could look forward to a new treasure-hunt, shopping experience with a renovated store and an expanded selection of merchandise.

Customers will still be able to shop at Trade Secret stores during the conversion process from April through to May.

A new report by professional services group Deloitte Access Economics found that Aussie retailers are being given a much-needed boost by cashed-up international travellers spending at record highs.

The report found that during the 2015-16 financial year foreign and domestic tourism expenditure in Australia totalled $130 billion.

Retail spending accounted for 39.7 per cent, including $36.1 billion on food and $15.6 billion on non-food retailing.

The report also found foreign retailers entering the Aussie market, including H&M, Zara, Uniqlo and TK Maxx, were spending big on property leases in prominent locations, to woo customers with prestige and style.

In the UK, TK Maxx stocks designer clothes and homewares at reduced prices from labels including Marc Jacobs, Ralph Lauren and Calvin Klein.

TK Maxx, which operates more than 500 stores across the UK, Ireland, Germany, Poland, Austria and the Netherlands, and Trade Secret, are part of The TJX Companies, Inc, which operates more than 3800 stores around the world.

Gold Coast tourism chiefs have predicted the Chinese tourist market could double to 400,000 visitors a year as refurbished centres such as Pacific Fair, Robina Town Centre and Australia Fair help the city cement itself as Australia’s biggest shopping mecca.

Gold Coast Tourism chief executive Martin Winter said shopping was a major pull with international tourists “along with wildlife and safety.”

Shopping is a major pull with international tourists MARTIN WINTER