H & M plans to expand to open its first HomeStore

In an interview with WWD, H&M CEO Karl-Johan Persson shared insights into the company’s upcoming plans and current performance. He mentioned that H&M is likely to open its first dedicated Home Store in the near future, signaling a strategic move to diversify its product offerings. Looking ahead, the company is set to expand further by opening stores in South Korea and Israel in the coming year. Additionally, H&M plans to launch a new flagship store on the Champs Élysées in Paris, highlighting its continued focus on key global markets. The company also intends to strengthen its online sales operations, particularly in English-speaking regions. Despite a recent decline in overall sales—falling short of both internal targets and market expectations—H&M has managed to remain profitable in recent months. According to Persson, the drop in sales can be partly attributed to weather conditions, as warmer temperatures have affected demand for winter clothing and seasonal garments. In October, sales at existing H&M stores declined by 3%, with weak performance in the U.S., Spain, and France contributing significantly to the overall dip. However, sales in Central Europe and Asia have remained strong, showing resilience in these regions. Persson emphasized that the company aims for a 10% to 15% annual increase in new store openings, while also focusing on boosting same-store sales from existing locations. Much of H&M’s growth has come from the expansion of its core brands and traditional markets in Europe and North America, alongside emerging markets such as Japan, Russia, and China. This year alone, the company opened 240 new stores, exceeding its initial target of 225. Reflecting on the company’s progress, Persson said: “We are very happy with the development we’ve seen and will continue to grow aggressively next year.”

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