Zumiez hinted that there may be more international expansion in its future in a recent quarterly filing with the SEC.
In just five short years, Zumiez has grown to have more than 80 stores in different countries.
The industry retailer first expanded to Canada in 2011, where the company now has 47 stores with more planned.
The following year, Zumiez acquired European retailer Blue Tomato, which operates 28 stores in Europe with more planned.
In 2016, Zumiez moved to Australia, where it purchased Fast Times, which has five stores. Zumiez plans to open more stores in the country.
In the quarterly filing, Zumiez said “We may continue to expand internationally either organically or through additional acquisitions.”
The statement was included in the “risk factors” section of the quarterly filing, where Zumiez acknowledged the difficulties and complexities that come with expanding globally.
CEO Rick Brooks has said before that the company’s growing global reach can help Zumiez cement its relationships with key brands by helping them grow.
“We are working very hard in terms of thinking about new ways that we can work to make our brand partners more successful,” he said on an earnings conference call this month. “And one of most obvious ways was to build a high-quality global retail network.
“We can help young brands grow around the world,” he continued. “One of the things we’ve learned is that brands become global much more quickly than they used to by the nature of consumer technology and the Internet and social media.”
The fragmented retail landscape, particularly in Europe where there are not a lot of major chains, also offers Zumiez a lot of opportunity, Rick has said in the past.
