Iconic American retailer J Crew is the latest global retailer scouting down under.
That's according to the latest fast fashion forecast from business information firm IBISWorld.
Fast fashion is expected to continue to expand into local retail markets in 2015, with IBISWorld slating Marks & Spencer and J Crew as next in line.
According to the firm, the clothing and accessories retail sector is forecast to earn $20.9 billion in revenue in 2014-15.
However, as it is a mature and relatively saturated sector, revenue has declined at a compound annual rate of 1.2 per cent over the past five years.
Fast fashion is one of the few categories within the clothing and accessories sector that is exhibiting growth, with compound annual growth of 10.4 per cent over the past five years.
IBISWorld senior industry analyst Lauren Magner said the figures had consequences for retailers.
"This indicates that fast fashion retailers are attracting consumers’ attention at the expense of other forms of retail."
Since it began operating in Australia, Zara has averaged a strong operating margin of almost 25 per cent – which is higher than that of the broader Australian clothing, footwear and personal accessory retailing sector – primarily due to their product innovation and strategic store fit-outs.
H&M, Sephora, Uniqlo, Victoria’s Secret, Topshop and luxury US brands such as Michael Kors and Coach are also set to expand their presence in Australian retailing in 2015.
Zara is opening a Zara Home store in Melbourne, followed by a flagship store in Sydney.
Brands such as British constant Marks & Spencer and US-based J.Crew are also rumoured to be planning Australian openings in the near future.