H&M to open in Vietnam during 2017
In this article (5)
In 2017, H&M will also open in Colombia, Iceland, Kazakhstan and Georgia. CEO Karl-Johan Persson confirmed the openings while announcing a 7 per cent increase in global sales for its financial year on November 30.
Last year, H&M opened online stores in 11 markets, along with 427 new brick-and-mortar stores worldwide.
“This means that H&M is now present in 64 markets of which 35 offer eCommerce. We welcomed more than 13,000 new colleagues which means there are now more than 161,000 colleagues in the group,” he said.
The H&M Asia online stores will also open in Hong Kong, Singapore, Macau, Taiwan and Malaysia, according to Inside Retail Asia. A sixth will open in Turkey.
In addition, this year the company – which also operates the Cos, Monki, Weekday and Cheap Monday retail brands – will also reveal one or two more brands.
“In 2017 we are looking forward to delivering strong collections and customer experiences and launching one or two new brands. This, combined with ongoing improvements and investments in the omni channel offering, the supply chain and advanced analytics make us positive towards our opportunities in reaching our newly rephrased growth target, both in 2017 and going forward,” Persson said.
Most new stores will carry the H&M banner, but 70 to 80 will be for other brands, including H&M Home.
Questions & Answers
Q.Besides Vietnam, which other countries will H&M open stores in during 2017?
Besides Vietnam, which other countries will H&M open stores in during 2017?
H&M plans to open stores in Colombia, Iceland, Kazakhstan, and Georgia in 2017. These openings were confirmed by CEO Karl-Johan Persson alongside global sales figures.
Q.How many new stores did H&M open globally in the last financial year?
How many new stores did H&M open globally in the last financial year?
H&M opened 427 new brick-and-mortar stores worldwide during the last financial year. This expansion contributed to their presence in 64 markets, 35 of which now offer eCommerce.
Q.Will H&M be launching any new brands in addition to its existing portfolio?
Will H&M be launching any new brands in addition to its existing portfolio?
Yes, H&M intends to reveal one or two more brands in 2017. This is part of their strategy to deliver strong collections and customer experiences, alongside investing in omni-channel offerings.
Q.How many of the new stores planned for 2017 will not be under the main H&M brand?
How many of the new stores planned for 2017 will not be under the main H&M brand?
Between 70 and 80 of the new stores planned for 2017 will be for other brands within the group. This includes stores for H&M Home, as well as their other retail brands.
Reader pulse
H&M's Vietnam entry:
20,187 votes so far