Swedish retailer H&M opens at V&A Waterfront in 2015
Swedish retailer H&M has confirmed it will open 4700 m2 flagship store, developed over several levels, at Cape Town's V&A Waterfront in 2015. The group has expanded substantially in recent years with 3300 stores spread across 54 markets, with a growth target to increase its number of stores by 10-15% per year.
David Green, CEO of the V&A Waterfront, "Expected to be one of the first in Sub Saharan Africa, this is certainly a coup and is in line with our strategy to be first to market with new and different retailers to broaden our current retail offering and keep it relevant for our visitors."
H&M's business concept is to offer fashion and quality at the best price. In addition to H&M, the group includes the brands & Other Stories, Cheap Monday, COS, Monki and Weekday as well as H&M Home. In 2013, sales including VAT were SEK 150 090 million and the number of employees is more than 116 000. For more information, go to www.hm.com.
