H&M prepares to enter new markets in 2017

London - Swedish fashion retailer H&M is expanding its reach and moving into new markets, as the retailer has signed to open its first stores in Georgia in 2017.

In addition to opening its debut stores in Georgia, H&M will also be opening its debut stores in Colombia, Iceland and Kazakhstan next year. The Swedish retail will also continue the rapid rollout of its online store, which is currently available in 35 markets.

At the moment, H&M has yet to reveal additional details concerning its upcoming store openings in Colombia, Georgia, Iceland and Kazakhstan, such as where the first stores will open, but FashionUnited has contacted H&M Group for further information.

The expansion comes as H&M positions itself as a leading international retailer, aiming to offer the best price-quality fashion produced in a sustainable way. H&M previously set a growth target to increase its current number of stores by 10 to 15 percent per year.

For the full-year to 2016, H&M Group aims to open a net addition of 425 stores, with H&M stores representing the largest part of the group's new stores. At the moment, the H&M Group counts more than 4,200 stores in 64 markets.

Photos: H&M stores in Mexico City and Madrid

Copyright: H&M