H&M will launch two new stores on Januaray 23 H&M is planning to launch two new stores in the southern city of Can Tho and the northern city of Halong on January 23. Thus, the company raised its total number of outlets to 11 across the country. Back in 2017, when the brand initially set foot in the 100-population market, Fredrik Famm, H&M managing director of the Southeast Asia region, told VIR that Vietnam plays an important role in H&M’s strategy. “H&M considers Vietnam a potential market and this is the best time to make Vietnam the 68th market of the global H&M family.” By the end of 2019, it had eight stores located in golden destinations in popular shopping malls in big cities with stellar leasing prices. For example, with a rate of $102 per sq.m at Vincom Dong Khoi, H&M has to pay nearly $225,000 a month after its 2,000 sq.m store. Other places charge $50-100 per sq.m a month for stores of a similar size. In 2020, during the COVID-19 lockdown, the brand inaugurated only one store. It has also shut 250 stores across the globe since October – just after closing 140 stores in 2018 due to the… Read full this story
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Is H&M unfit to pursue strategy to grow number of stores? have 318 words, post on www.vir.com.vn at January 16, 2021. This is cached page on VietMaz. If you want remove this page, please contact us.