Home / Knowledge / News / Apparel/Garments / China will soon replace Germany as H&M's largest market
China will soon replace Germany as H&M's largest market
07
Feb '13
China is set to overtake Germany as the largest market for Hennes & Mauritz (H&M), the world’s second-largest apparel retailer.
 
It is because the pace of new store opening by H&M in China is faster than in any other country, Karl-Johan Persson, CEO of the Swedish company, said in a recent interview, Bloomberg reported.
 
In 2012, H&M opened 52 outlets in China, compared to 22 stores in Germany, taking the tally of H&M stores in Germany to 406.
 
Mr. Presson said while China’s economy is growing rapidly, Europe is passing through a difficult economic situation, which has impacted private consumption and spending.
 
The demand for clothing in Europe has declined and H&M’s sales have been seriously impacted in Germany, Greece, Spain, Portugal, the Netherlands, Switzerland and Italy, he said.
 
H&M is mulling on opening stores in Argentina, Brazil, Colombia and India, while the European demand recovers, he added.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 4th May 2016

Ahead of FTA talks with China, Lanka worried about TPP

Even as Sri Lanka prepares for the third round of talks for a Free...

Textiles | On 4th May 2016

IMF predicts Asian growth to remain strong

The International Monetary Fund (IMF) expects growth in Asia and the...

Courtesy: GMAC Cambodia

Apparel/Garments | On 4th May 2016

Cambodia’s garment exports rise 13% in Q1

Garment and footwear exports from the Southeast Asian nation of...

Interviews View All

Munir Ahmed
M&J Group

How is the market for readymade garments faring in Bangladesh? Is the...

Sivakumar Narayanan
Uster Technologies Ltd.

How do customers react normally in cases of contaminated cotton yarn in...

Steve Lamar
American Apparel and Footwear Association (AAFA)

What are proposed changes to the compliance rules and how will it affect...

Mr. Keith Hayward
Monadnock Nonwovens LLC

Born in England, an honors graduate in Chemistry at the University of York ...

Marten Alkhagen
Swerea IVF AB

<b><i>Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles...

Brian J. McCarthy
TechniTex Faraday Limited

Mr. Brian J. McCarthy is the Director of TechniTex Faraday Limited Sector, ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search