Fashion
Fast fashion retailer H&M announced it will open its fifth store in New Zealand on April 4 in Tauranga Crossing, Bay of Plenty. The new store, set in 1600sqm, will have two levels and will feature apparel and accessories for men, women, youth, kids and baby, and its home concept.
“We are thrilled to finally be opening a store in the Bay of Plenty region and offer our customers an incredible fashion destination within a superb shopping centre” said Daniel Lattemann, country sales manager for H&M New Zealand.
“We are also looking forward to introducing our H&M Home concept as we know it has been a customer favourite since making its New Zealand debut in 2017.”
H&M entered the New Zealand market in 2016 and opened its first store at the Sylvia Park mall. The retailer’s other stores are located in Commercial Bay in Auckland, The Crossing in Christchurch and Queensgate in Wellington.
The Swedish fashion retailer also announced recently it will open a third Auckland store which will be located at the Botany Town Centre and will be launched in autumn 2019.
Last month, H&M posted a drop in profits for the year ending November 30, blaming the decline on its investment aimed at boosting its online business.
The world’s second largest clothing retailer embarked on a transformation program last year, investing heavily in logistics and digital technology aiming to improve shopping experience and product selection. This includes an upgrade in its mobile app, faster deliveries and the rollout of click-and-collect.
In the last three months of its financial year, the company spent around 450 million Swedish crowns on logistics and technology, including resolving problems it flagged earlier in 2018.
H&M chief executive Karl-Johan Persson said the upgrade in their logistics systems inevitably resulted in increased costs but will lead to a range of improvements for their customers.
