GENERAL MERCHANDISE NEWS
H&M set for German expansion
19 November, 2003 | by Retail Bulletin
Growth in key market for fashion retailer
November 19 2003
Hennes & Mauritz plans to open up to 25 new stores in Germany next year, with a focus on smaller towns.
With consumer confidence in Germany having been low for most of this year, it has not been a big expansion target for most international retailers.
However, it remains the most important market for H&M, according to the Swedish retailer’s CEO Rolf Eriksen. The chain is looking for store locations in towns of around 50,000 people.
H&M has operated in Germany for 20 years and has 239 outlets and a 3.5 per cent share of the country’s total clothing market.
On a worldwide basis, H&M turnover increased by 10 per cent in October.
