H&M Australia to Launch Online Store

H&M currently operates 41 online stores in the 67 countries it has spread to, but the company is yet to launch an online store in Australia.  “It won’t be long,” H&M country manager for Australia and New Zealand, Hans Anderson, told The Weekend Australian, however confirming there was no set date for this just yet.

The fast fashion retail giant has been finding better than expected success in Australia, reporting that its 22 local stores here have been some of the best performers out of its global fleet.

The company edged $301.8 million in sales from November 2015 to November 2016, with revenue 78 percent higher than the previous year, well above the $200 million that analysts had predicted H&M’s Australian stores to rake in.

The spike occurred in the same period that H&M opened 10 new stores in Australia. Only just two weeks ago, the company announced its plans to expand its store network into regional areas of Australia, including Townsville and Rockhamptom in Queensland.

“We have had a great reception from our customers and are extremely happy with the way that our stores have been trading,” Andersson told Business Daily.

H&M, Zara and Uniqlo are three international entrants that have proven to be victorious in the international fast fashion push Down Under – together, they have captured over $700 million in local sales in 2016.

Last month, Uniqlo announced its intentions to open a New Zealand store in the near future.

According to a new report from CBRE, the influx of international retailers into Australia is expected to continue to rise in the coming three to five years, with international brands that have already set up shop here predicted to expand into more cities.

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