Thursday, October 08, 2015

The Latest in H&M's Plans for Global Domination: Expanding Beauty, Opening 3 Stores a Day

The Latest in H&M's Plans for Global Domination: Expanding Beauty, Opening 3 Stores a Day:

An H&M store. Photo: Anna Webber/Getty Images
An H&M store. Photo: Anna Webber/Getty Images
With H&M, it feels like every quarter brings some news of massive expansion — or at least another campaign starring David Beckham. It can be hard to keep up. This time around — for the stretch between June 1 and Aug. 31 — the retailer's sales grew by 19 percent, coming in at 46 billion Swedish kronor. That's roughly $5.5 billion.

In July, the retailer launched H&M Beauty in 700 locations in 28 markets (with 14 more to come in the near term), which it says is off to a "very good start." Here's what else is up: The brand opened its first stores (plural) in Macau during the quarter, and it plans to open physical locations in India and South Africa in October, along with online shops in Switzerland and Russia. In 2016, it should have e-commerce live in Ireland, Japan, Greece, Croatia, Slovenia, Estonia, Latvia, Lithuania and Luxembourg.

Currently, H&M has 3,675 stores globally. This fall, CEO Karl-Johan Persson said in a statement, will bring around new 240 new locations — "almost three new stores per day." Think about that every time you're eating breakfast, lunch or dinner.

In addition to H&M Beauty and all its other brands (COS, Monki, & Other Stories, Weekday), the Swedish retailer is "looking into launching other concepts and brands," a suggestion it promised to elaborate on at a later time.

As if we expected anything different.

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