H&M eyes online expansion

handm H&M are looking to branch out online shopping-wise before the end of the year.

The slightly-shabbier-than-Topshop-but-dearer-than-Primark chain are opening 10 online portals before this year is out

H&M (Hennes & Mauritz AB) have said that sales in the new markets have “got off to a very good start” and reported a 7% increase in sales to £3.8m across the company in the third quarter.

The shares fell the most in six months as the clothing retailer also reported a decline in third-quarter gross margin to 58.3% from 58.8%. H&M posted net income rose 20% to 5.3bn kronor ($740 million) in the three months through August.

There are also worldwide domination-type expansion plans afoot for the Group’s other brands COS, Monki, Weekday, Cheap Monday and & Other Stories.

There’s even H&M Home, which has been growing at an alarming rate, and there’s 15 more of those planned for 2014.

Karl-Johan Persson, CEO of the H&M cloak of shopping solutions, said the retailers online stores are “a very important complement” to its physical stores as they allow H&M to expand its offering to consumers.

1 comment

  • Rob
    Online offering is shambolic.. Takes 3 weeks if your lucky... 5 if not so lucky Need to sort out the online staff before expanding

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