US retailers dominate new store openings in Europe: Savills

The opening of international brand stores in major European cities surged in 2025, with US retailers leading the growth, according to the latest Savills study.

While European brands continue to hold regional leadership with 56 per cent of new openings, US companies (including food service and fashion) are now the main foreign group in European retail, accounting for 25 per cent of new stores on the continent, up from 14 per cent in 2024.

The report highlighted that this trend is driven by economic and political factors. Recent trade tensions and declining consumer confidence in the US have prompted several American companies to accelerate their expansion plans into Europe.

The trade agreement between the European Union and the United States, concluded in July, has further strengthened this dynamic, and growth is expected to continue in 2026.

“Recent trade tensions may have created some economic challenges, but they seem to have accelerated the expansion of US food and retail operators across major European cities. We expect this trend to continue, considering the significant number of investments already made in this sector,” Marie Hickey, director in commercial research at Savills, said.

While French, Italian and Spanish companies continue to lead new openings within Europe, showcasing the strength of fashion in these countries, US retailers are showing growing interest in investing across the continent, as per the study.

Canadian retailers, who traditionally focused on the US market, are now turning to European cities and already account for 4 per cent of new international brands on the continent. Examples include Arc’teryx and Lululemon, both focused on an active, high-performance lifestyle, which opened in Milan this year, drawn by the city’s status as a fashion capital and by the profile of local consumers.

Meanwhile, Chinese groups are rethinking their approach to the European market, now representing 6 per cent of new international brands, a slight decrease from 7 per cent in 2024.

Once concentrated mainly in London and Paris, these operators are expanding into cities such as Berlin, Amsterdam and Zurich, as part of a strategy to diversify revenues and strengthen their international presence in the post-pandemic period. In 2025 alone, Pop Mart, Miniso and BYD entered these markets, with the toys and hobbies segment emerging as one of the leading export categories.