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H&M to launch in Singapore in 2011

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H&M to launch in Singapore in 2011
08:38 CET+01:00
Swedish clothing retail giant Hennes & Mauritz has announced its first foray into the south-east Asian market by opening a store in Singapore.

The store will be located in Orchard Building on Orchard Road in central Singapore's main shopping district, according to a company statement.

"We look forward to opening our first store in South East Asia. 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," said Karl-Johan Persson, CEO at H&M.

The new store is planned to open during the autumn of 2011 and will have a sales area of approximately 3,000 square metres.

The Swedish retail giant is run by the Persson family and now operates around 2,000 retail outlets worldwide. While much of its clothing is manufactured in Asia, the Singapore store is the firm's first outlet in the south-east Asia region.

The firm employs about 76,000 people and in 2009 its turnover amounted to 118.7 billion kronor ($17.3 billion).

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