H&M & Other Stories chain considers UK debutWednesday, 04 April 2012
The UK market has been one of the most consistent
and growing markets for H&M and its subsidiary brands. The high street conglomerate this week announced it is launching a premium-priced brand called & Other Stories, and a spokesman told Retail Week the UK is “on the list” of European countries it is considering for the premium chain’s debut.
H&M is planning to roll out the brand with 10 standalone stores in the EU, a similar strategy to its Cos business.
The spokesman said the new store will “not be luxury” but will have higher price points than H&M. H&M group chief executive Karl-Johan Persson said that, similar to Cos, the new chain will be independent from H&M.
He said: “We have great faith in this new brand and we see considerable potential for more initiatives.”
UK sales were up 22% tp £224.1m in the first quarter to February 29. Alongside China and the US, the UK is H&M’s largest expansion market in the year ahead.