
Swedish cheap'n'chic fashion giant H&M will open its first store in South Africa in 2015, its first foray into sub-Saharan Africa, the company announced on Thursday.
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Swedish cheap'n'chic fashion giant H&M will open its first store in South Africa in 2015, its first foray into sub-Saharan Africa, the company announced on Thursday.
The world's second-biggest apparel retailer Hennes & Mauritz on Thursday unexpectedly posted a small decrease in July like-for-like sales, the first monthly drop since March.
Comparable sales at budget fashion retailer Hennes & Mauritz grew at their fastest pace in nine months in June helped by strong demand for new collections.
Swedish fashion giant H&M is considering starting production in South America and Africa, chief executive Karl-Johan Persson told the Financial Times in an interview published on Monday.
H&M plans to spend around 100 million euros on an initial 50 stores in India, hoping a growing population and rising incomes in Asia's third-largest economy will fuel demand for its fast-changing fashions.
H&M is looking to expand its sportswear offering by 2014 and has announced that it will be launching a line dedicated to sport that will cater for men, women and children.
H&M, the world's second-biggest fashion retailer, will speed up store expansion in the face of weak European demand after unusually big markdowns pushed down profits more than expected in the first quarter.
European budget fashion retailer Hennes & Mauritz said it will apply to open stores in India, the third-biggest economy in Asia, as it seeks to expand into faster-growing markets.
Hennes & Mauritz, the world's No.2 fashion retailer, posted an unexpected drop in quarterly earnings, hit by competition in tough European markets and the cost of its expansion drive to take on bigger rival Inditex.
H&M,the world's second largest fashion retailer, said on Thursday it will begin collecting used clothing in all of its markets next year in a bid to reduce the environmental impact of its products.