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

Textiles | On 27th Mar 2017

Himatsingka to disinvest 100% stake in Italian subsidiary

The board of directors at Indian home textiles manufacturer and...

Courtesy: Flipkart

Apparel/Garments | On 27th Mar 2017

Flipkart bags $1bn funding at lower valuation

In a new round of funding, Flipkart, one of India's biggest ecommerce ...

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Karan Arora
Karan Arora

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search