Hennes & Mauritz AB (H&M), Swedish fashion retailer, has today reported an 18 percent sales increase in 2014, compared to the previous year.
The Group’s sales rose by 14 percent in local currencies, while its gross profit was up by 17 percent. Following a steady expansion pace, the company opened 379 new stores last year, closing 2014 with a total of 3.511 units in 55 countries worldwide. According to its press release, H&M expects to achieve a 15 percent sales increase in January 2015 compared to the same month last year.
“We have had a very good year, marked by strong expansion both in stores and online. As another step in broadening our offerings, in autumn 2015 we will launch H&M Beauty, a new range of make-up, body and hair care products,” stated Karl Johan Persson, CEO of H&M.
Plans for this year include opening approximately 400 new stores and launching e-commerce websites in Belgium, Bulgaria, the Czech Republic, Hungary, Poland, Portugal, Romania, Slovakia and Switzerland. Moreover, the Swedish chain will enter five new markets, Taiwan, Peru, Macau, South Africa and India.
Established in 1946, H&M Group is nowadays positioned as the world’s second largest clothing retailer, offering good quality, modern fashion products at an affordable price range. Its brand portfolio consists of the labels H&M, COS, Monki, Weekday, Cheap Monday and other Stories.
Within the South East Europe region, H&M is currently present in Serbia, Croatia, Romania, Bulgaria and Slovenia.
Source: retailsee.com