Swedish H&M to open first KL store this year 2012
Swedish fashion retailer H&M Hennes & Mauritz, in its financial report released on January 26 this year, confirmed its foray into Malaysia this year.
KUALA LUMPUR: Swedish fashion retailer H&M Hennes & Mauritz AB will open its first store in Malaysia this year.
Its entry has been much awaited with rumours of its opening going as far back in 2009.
The company, in its financial report released on January 26 this year, confirmed its foray into Malaysia this year.
“We are planning for a strong expansion in 2012 with about 275 new stores net. The countries in which we will open the most stores during the year are China, the US and the UK.
Bulgaria, Latvia, Malaysia and Thailand will become new H&M markets,” it said in its report for the December 1 2010 to November 30 2011 period.
The retailer, which operates a bulk of its stores under the H&M brand, said it remains positive with its future expansion and business opportunities.
“H&M is continuing to expand in Southeast Asia with a store opening in Kuala Lumpur in Malaysia during the autumn 2012,” it said.While in Malaysia it will open on its own, the expansion in Thailand will be a franchise with JS Gill.
Last year, the group’s network expanded by 266 stores.
Industry sources contacted by Business Times on the potential H&M store location in Kuala Lumpur said the retailer’s preference is to have a presence where there is a high foot
traffic and immediate visibility.
Equally important is that it can have a store size of 10,000 sq ft to 30,000 sq ft, they added.
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