In an interview with WWD, H&M CEO Karl-Johan Persson shared insights into the company’s upcoming plans and recent performance. He revealed that H&M is set to open its first-ever Home Store in the near future, marking a new phase in the brand's evolution. Looking ahead, the company will expand into South Korea and Israel next year, while also launching a flagship store on the Champs Élysées in Paris—a strategic move to strengthen its presence in key European markets.
H&M is also focusing on boosting its online sales, particularly in English-speaking regions. Despite a recent dip in overall sales, which fell short of both internal targets and market expectations, the company has managed to remain profitable in recent months. According to Persson, the decline was partly due to unseasonably warm weather, which affected demand for winter clothing and outerwear.
October saw a 3% drop in sales at existing H&M stores, with weak performance in the U.S., Spain, and France contributing significantly to the overall decline. However, sales in Central Europe and Asia have remained strong, offering a silver lining. The CEO emphasized that H&M is targeting a 10% to 15% annual growth in new store openings, alongside improvements in same-store sales.
Much of the company’s growth has come from expanding its core brands in established markets like Europe and North America, as well as emerging markets such as Japan, Russia, and China. This year alone, H&M opened 240 new stores—exceeding the initial target of 225. Reflecting on the progress, Persson said, “We are very happy with the company’s development and will continue to expand vigorously next year.â€
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