Monster Swedish clothing retailer H&M is looking into a nationwide expansion across Australia.
The Hennes & Mauritz AB chain — which has over 3,000 stores in 53 countries — is known globally for producing runway fashion pieces at knockdown prices.
Australia has been the fastest growing markets for the Swedish power brand, which more than tripled sales to $78.43 million in the country in the first half of the year.
“Australian customers really like the idea that you can combine good quality, trendy fashion with fantastic prices,” H&M Australia manager Hans Andersson told The Australian.
According to Anderson, the retailer will be hiring an additional 1000 staff as it “invests further in store service as local shoppers embrace the fashion chain’s on-trend, quality private-label clothing and apparel”.
The Swedish retailer made its debut in Australia last April with the opening of the Melbourne store which saw over 15,000 shoppers on its first day of trade.
Not long after, H&M also unveiled its $400 million development in Sydney’s Macquarie Centre with thousands lining up to sample the stylish wares.
And since clocking up sales of $67.6 million in its first seven months, the Swedish department store isn’t showing signs of backing down.
“We are looking to a continuous strong expansion,” said Andersson.
“We will open three more stores here in the second half, of which two will be large flagship stores in Sydney and Brisbane, and we will also open a big store in Perth.”
H&M joins the ranks of other retail giants such as Zara, Uniqlo and Muji who are tapping into Australia’s market as part of a foreign retail invasion.
The Swedish fashion brand has reportedly signed a lease for its flagship Sydney CBD store in Glasshouse on the Pitt Street mall which will open towards the end of this year.
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