OMGosh! I cant keep my excitement....
Last it opened its Asia outlet in Tokyo Nov last year....oh HK has it too.
Finally its in our sunny island!! Yeah Yeah!
Look out for H&M next Autumn!
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Business Times - 23 Nov 2010
H&M's first SEA outlet to open here next year
By MELISSA LWEE
SWEDISH fast-fashion giant H & M Hennes & Mauritz AB (H&M) announced yesterday that it will be making its foray into South-east Asia by opening a store in Singapore next autumn.
'We look forward to opening our first store in South-east Asia,' says H&M's CEO Karl-Johan Persson. 'There is great potential for expansion in this highly populated and fashion conscious region, and Orchard Road in Singapore is the perfect first step for this.'
The roughly 3,000 sq m store will be in Orchard Building, taking over the space that currently houses California Fitness gym.
Orchard Building is owned by Allsland, which is wholly owned by Henry Ngo, the chairman and managing director of Bonvests Holdings that owns and manages Liat Towers.
'We are very honoured that H&M has chosen to house their first store here at Orchard Building and we definitely hope that this will drive more traffic to the area,' said a spokesperson from Orchard Building's management.
'With Cathay Cineleisure and the opening of 313@Somerset and *SCAPE in the vicinity, we think that the location is very ideal for them in the sense that there are a lot of the young and fashion-discerning who hang out in the area who will be very excited to be able to shop at H&M.'
According to H&M's head of investor relations Nils Vinge, the store will be 100 per cent owned and operated by H&M, which has been the retailer's preferred strategy in all the 38 markets that it currently operates in (with the exception of the Middle East and Israel). It first entered the Asian market some three years ago in Hong Kong and Shanghai and can already be found in Japan, South Korea and various cities in China.
'We are planning to open outlets in Croatia, Romania, Morocco and Tunisia next year as well so depending on when it opens, my guess is that the Singapore outlet would probably be our 42nd or 43rd location,' said Mr Vinge who added that they are open to exploring other locations in Singapore.
'Singapore will be our first outlet in the region but hopefully not be our last. South-east Asia is a very interesting market - it is fast growing and there is a lot of interest in fashion. Before we expand, however, we want to understand the market better and we think that Singapore's the best place to start testing out how well H&M can do in the region.'
The news of H&M expanding into Singapore could very well have a positive spillover effect on the local retail industry, or so believes Sulian Tan-Wijaya, head of retail and lifestyle at Savills Singapore.
'If you take a more macro perspective, I believe that this news will boost the confidence level in Singapore's retail scene,' said Ms Tan-Wijaya who added that Savills Singapore and Hong Kong have a good relationship with H&M and are working with the retailer on their expansion plans in Singapore.
'I think that the moment H&M enters the market, it will inspire many other fashion brands that are contemplating expanding into Singapore to fast forward their plans. In fact, H&M is not the only new market fashion brand looking for large flagship spaces in Singapore and my take is that this is a real growing trend here which can only mean good things for the local retail scene.'
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.