Saturday, August 23, 2014   

H&M to open Shanghai flagship and China online store
(03-27 17:40)

Fashion retailer Hennes & Mauritz which has physical stores in Hong Kong, said today it will sell its apparel and accessories through an online store to customers in mainland China by the end of the year. It will also open a flagship store in Shanghai.
The company announced profits of 2.65 billion Swedish kronor (HK$3.17 billion), for the first quarter ended February, up from 2.46 billion kronor a year earlier.
Sales in the December-February quarter grew by 13 percent to 32.1 billion kronor.
The retailer opened 60 new stores, adding to a total 3,200.
Chief Executive Karl-Johan Persson, said in a statement, H&M plans to open “a total of 375 new stores net including many interesting store openings worldwide. We will open more H&M flagship stores than last year, for example in the General Post Office building in Melbourne, at Piazza del Duomo in Milan, on East Nanjing Road in Shanghai and on Weinstrasse in Munich, as well as a further two new flagship stores in Manhattan – on Fifth Avenue and Herald Square.’’—The Standard


   
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