H&M to open 400 stores this year

The H&M Group is planning to open around 400 new stores for the financial year 2014/2015, as the Swedish retail chain announced full-year sales increased in local currencies by 14 percent to SEK 176.6 billion including VAT.

Most of the expansion of H&M stores will take place in existing markets, however it did add that Taiwan, Peru, Macau, South Africa and India will become new H&M markets in 2015. In addition, H&M will also target new online markets this year, with Belgium, Bulgaria, the Czech Republic, Hungary, Poland, Romania, Slovakia and Switzerland being added to its e-commerce.

The group will also focus on expanding its Cos and & Other Stories retail footprint, with both opening more new stores in 2015 compared with 2014, however no confirmed numbers or locations were given.

“In 2014 we opened a net addition of 379 new stores – which is more than one store a day. And in 2015 we will be opening even more stores; in total, we plan a net addition of around 400 new stores,” said chief executive Karl-Johan Persson. “New markets planned for 2015 are Taiwan, Peru, Macau, South Africa and India. The greatest expansion will take place in existing markets where there is still great potential to grow further.”

Cos and & Other Stories to open more stores in 2015

Persson, added: “The most new stores will open in China and the US, but also in other large markets such as Poland and Germany. COS and & Other Stories plan to open even more stores this year than in 2014.”

The group also announced that it was continuing to broadening H&M’s product range, in 2014 it focused on its sportswear line and footwear range, and in autumn 2015 will see the launch of H&M Beauty, featuring make-up, body care and hair care that we replace its current own-brand cosmetics.

The group, which includes H&M, Cos, Monki, Weekday, Cheap Monday, & Other Stories and H&M has more than 3,500 in 55 markets, including franchise stores.