New Balance stores in Portugal – idealist / news
There are five New Balance official stores in Portugal. All are managed by Experience Group, the official distributor and owner of the stores in this sports brand on the Iberian Peninsula. But the partnership came to an end and dictated the closure of all stores in Portugal and Spain. You commercial spaces in national territory must close on January 19, 2022.
Lisbon, Porto, Alcochete, Faro and Vila do Conde were the five cities chosen by the Experience Group to open the New Balance stores in Portugal. In this partnership, which began in 2013, New Balance is committed to providing the necessary merchandising to stores managed by the Experience Group, which sold its brand exclusively, refer to Business Journal.
But this partnership came to an end, after the new balance not having renewed the licensing contract with the group, which expired on Friday, December 31, 2021. In Portugal, at five stores they will close on January 19, 2022. And in Spain, around 20 stores will close between January 10 and 15, throwing 250 people out of work, reference to the Expansion.
Opening of own stores on the table
After having closed the chapter with the Experience Group, the american sports brand wants to remain active in the Iberian Peninsula. For that, you should even open own stores in Portugal and Spain next year, said an official source at New Balance, cited by Negócios. “We plan to open a number of stores around the world in the next few years,” said the same source.
no frame to do growth plan for the next five years, an American multinational intends to invest in omnichannel promotion. This means that the presence of physical stores with new openings in all the markets in which it is present, as well as promoting e-commerce.