In a move ensuring that no 18-26 year old university student in the country is deprived of the ability to look like a hot Scandi exchange student, H&M has fired shots at every other retailer in the country and hinted at plans for rapid national expansion in a market they likely now see as a gigantic glowing dollar sign.
H&M chief executive Karl-Johan Persson, in Melbourne today for the launch of the Swedish apparel emporium’s inaugural Australian store, told Fairfax that the Australian market could sustain up to half a dozen H&M stores, a blueprint for expansion currently being investigated in “Sydney, Perth, Adelaide, Brisbane and some other cities.”
“In any market we go into we take it step by step, we have a huge respect for Australia even though we are successful in all the markets we have entered into so far, it’s a new set up for us, a fantastic new store and I think it will be successful, and if it is, well we are already now looking for stores in Sydney, Perth, Adelaide, Brisbane and some other cities,” Mr Persson said. “We are looking for suitable properties and at more cities.”
This follows the announcement that Melbourne will also host the first Australian incarnation of H&M’s upscale sister label, COS, to be located at The Strand on Elizabeth Street, which is probably 10% of the reason why everyone’s moving there now.
Cue this GIF.
Via SMH
