Swedish multinational retail-clothing company H&M has 3,100 stores in 53 markets worldwide. And as if that isn’t enough (it isn’t), they’re continuing to expand. The company announced their global expansion strategy last week and plans to open 375 shops in 2014. The highest rate of expansion will be in China and the US, but also in Russia, Germany, Italy and Poland. An H&M flagship is being opened in India, as well as the launch of their first outlets in Australia and the Philippines.
Though H&M’s expansion plans are even more ambitious than last year’s and will put a damper on their profit growth as the expansion is financed entirely by their own resources, CEO Karl-Johan Persson is confident that the company will remain in a strong financial position. “The competition compared with five years ago has clearly increased,” he said. “But we’ve still delivered a better result and we see that we have strengthened our position against our competitors. If we see that we lose market share, we would have to reposition ourselves.”
H&M is also aiming to meet the accelerating development of the online market. The company’s online shops are available in 10 European markets and in the US. Their site has been mobile-adapted for smart phones and tablets and will continue to expand.
H&M has been named one of the World’s Most Ethical companies in 2014 by The Ethisphere Institute, which will only help to expose and support their long-term investment plan as consumers increasingly value sustainable production and conscious purchasing.
#LYNL | (Live Your Notable Life)