Swedish clothing giant H&M currently have around 4400 stores around the world, and will during the financial year, open 430 new stores, including five new markets in Kazakhstan, Colombia, Iceland, Vietnam and Georgia. Online stores will also be opened in both Turkey, Taiwan, Hong Kong, Macau, Singapore and Malaysia.
When the clothing company on Thursday released figures for the first quarter of the financial year; sales (excluding VAT) had increased by eight percent to 46.985 billion Swedish Kronor, while profit after financial items fell to 3.212 billion kronor – From 3.327 billion during the same period the year before. However, this was stronger than most market analysts had expected, and more recently; the hard-pressed stock rose in value at the stock market opening.
The clothing giant is also launching a new brand; called “ARKET”. The brand will focus on quality with timeless and functional design; says the company in a press release.
“There will be products in a wide price range, though in a slightly higher price bracket than you are familiar with when it comes to H&M. There will be a large emphasis on materials, function and fit”
The range is also supplemented by selected products from external brands. In most stores, there will also be a cafe for customers to enjoy. The cafe is based on the new Nordic cuisine, with a focus on well-being and natural ingredients. The first store is scheduled to open in London in early autumn this year, and at the same time; they will open online stores for trading in 18 European countries. After the London shop opens it’s doors; stores in Brussels, Copenhagen and Munich will follow suit. The new stores will sell products from other, external designers and brands – and most of them will also have its own cafe.
I personally think this is a cool new concept, and one that we haven’t seen that much of before.
Wouldn’t it be nice to buy some clothes and accessories for your home, relax, take a coffee and play some online table games on your phone? I think it’s the perfect fit!
Selected range of products
So what will the brand “ARKET” offer exactly? According to H&M, it will provide simple and timeless collections for men, women and children, accessories and a select range of products at home. “The brand focuses on quality and timeless and functional design. There will be products in a wide price range” writes H&M CEO Karl-Johan Persson in a report.
H&M sells its products through seven different brands at the moment – H&M, COS, & Other Stories, Monki, Weekday, Cheap Monday and H & M Home.
Photos by H&M