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H&M opens world’s largest store in Vegas

Swedish clothing retailer H&M will open its largest store in the world in Las Vegas on Saturday.

H&M opens world's largest store in Vegas

The store was slated to open in November, but the launch was delayed until Saturday for unknown reasons, according to the Las Vegas Sun.

“As H&M celebrates 10 years and over 200 stores in the US, we remain committed to increasing our presence in the US marketplace by opening the new H&M flagship location in Las Vegas, Nevada,” US President for H&M Daniel Kulle said in a statement on Friday.

He added that the chain is “thrilled” to continue its expansion on the West Coast. H&M opened its first US store in New York in 2000 and announced it would open its Las Vegas location in May.

H&M took over the three-level, 4,400 square metre space at the Forum Shops at Caesars, an upscale mall connected to luxury hotel and casino Caesars Palace on the Las Vegas Strip, from iconic toy retailer FAO Schwarz, which closed on January 23rd due to the economic downturn.

FAO Schwarz was bought out by toy store chain Toys “R” Us late in May 2009.

The first 1,000 shoppers in line will receive an H&M Access to Fashion Pass, valued from $10 (70 kronor) to $500. In addition, one customer will win a shopping spree worth $1,000.

The store will operate on Sunday to Thursday from 10am to 11pm and remain open until midnight on Friday and Saturday.

The new outlet boasts a 15-metre-high atrium with disco balls and custom-designed walls with a light show.

H&M, which was founded in 1947, operates around 2,000 stores in 37 countries in Europe, North America, Middle East and Asia and employs 76,000 staff.

It announced plans last month to open its first outlet in Singapore in the autumn of 2011 and opened its first store in Turkey in early November. It also inaugurated a three-storey flagship store in Paris in early October.

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H&M

H&M competitor to sponsor Sweden’s Olympic team

Six months after establishing itself in Stockholm, Japanese clothing brand Uniqlo has announced it will sponsor Sweden’s athletes at the 2020 Olympics.

H&M competitor to sponsor Sweden's Olympic team
Anna Hasselborg of Sweden's curling team tries out new kit supplied for the country's athletes by Uniqlo. Photo: Henrik Montgomery/TT

The clothing chain, one of the world’s fastest-growing retail companies, is also set to open more stores in the Scandinavian country.

“Swedes are so sophisticated and warm-hearted,” Uniqlo Europe CEO Taku Morikawa said, stressing how welcome his company has been made to feel.

Morikawa was in Sweden to present the partnership between Uniqlo and the Swedish Olympic Committee at an event at Uniqlo’s store on Hamngatan in Stockholm.

Sweden’s athletes wore teamwear supplied by H&M at the last two Olympic Games.

The Stockholm store, Uniqlo’s first in the Nordic region, opened its doors in August 2018. An expansion is now planned on the Swedish market, although Morikawa declined to reveal where.

“We definitely have plans to open more stores here,” he said.

A store will also open in Danish capital Copenhagen in the coming spring as Uniqlo’s holding company Fast Retailing continues its global expansion.

Sales figures in Sweden’s clothing retail sector have seen a downward trend in recent years, with an exception in 2015.

H&M is usually cited as one of Uniqlo’s main competitors.

The impact of a new player on an already-competitive market is difficult to predict, according to the Swedish Trade Federation (Svensk Handel).

“Locally, competition is sharpened, but competition is already fierce. I would be inclined to say that this type of partly new concept store can, instead, help to revitalise the physical retail sector for clothing,” the association’s head economist Johan Davidson said.  

READ ALSO: H&M profit down sharply despite rise in online sales

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