Kantar Retail, a European survey of consumer behavior, has identified Britain’s B&M as one of the continent’s retail rising stars.
A discount clothing chain founded in the mid-1970s, B&M has come to prominence only in the years since 2005, after its purchase by Simon, Bobby and Robin Arora. That trio has expanded B&M relentlessly since its acquisition of the company. Currently, B&M pulls in £1 billion per year in sales from some 290 stores, and has plans to open new stores at a rate of one per week.
B&M’s discount clothing model has fared especially well in the years since Europe’s economic downturn. The Kantar Retail report also cites the brand’s “differentiation,” efficiency and small store format as reasons for its success.
Among the 15 other retailers named in the Kantar report were online retail powerhouse Amazon and cash-and-carry chain Booker. The report also named three grocery chains among its list of up and comers–Aldi, Ocado and Waitrose.