H&M opens first store in Tunisia
H&M is moving forward with plans to open hundreds of stores across the world this year with the addition of its first location in Tunisia.
The expansion takes the Swedish clothing brand’s presence to more than 73 markets, including recent arrivals in Bosnia-Herzegovina and Belarus.
Entering via franchise, Tunisia will be home to two H&M shops by the end of the year. The debut shop opened at Centre Commercial Tunis City on 29 November, and a further location will be added in Azur Mall, Tunis on 27 December.
Commenting on the opening, Dan Nordstrom, global head of franchise at H&M Group, said: “We are incredibly happy to open our first store in Tunisia. It is with great pleasure that we are able to bring fashion and quality at the best price, in a sustainable way, and inspire people to build their personal style with H&M.”
The largest fashion retailer in the world after Inditex and Fast Retailing, H&M Group will open 290 new stores, including franchises, this year. Iceland has become a new store market for Cos, Weekday and Monki, while Weekday, & Other Stories and Arket have opened their first stores in Luxembourg. Cos has also opened in Lithuania and Monki in Poland and the United Arab Emirates.
But the size of the store estate is being revised to adapt to changing consumer behaviours, a move that will result in 120 net store openings - fewer than previously expected.
In the first nine months of the year, the Swedish group reported an 11% increase in sales while profit after financial items increased 6% to 11.9 billion crowns ($1.2bn).
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