Our offering is aimed at fashion fans all over the world. We are expanding with a focus on quality and sustainability in existing markets as well as in new countries. H&M Group includes the brands - H&M and H&M HOME, COS, & Other Stories, Monki, Weekday, ARKET and Afound.
The rapid changes in customer behaviour caused by the Covid-19 situation is expected to further speed up the digitalisation in fashion retail. At H&M Group, store optimisation is being accelerated and the integration of stores and online continues. For full-year 2020 it is planned that a total of 170 stores will permanently close, rather than the 130 communicated previously, resulting in a net decrease in the number of stores of around 40. The number of openings has been reduced from the previously planned 165 to around 130.
Australia is scheduled to become a new H&M online market towards the end of 2020. H&M will also shortly be launched on the ecommerce platform SSG.COM in South Korea.
COS, Monki, Weekday, & Other Stories and ARKET have in 2020 expanded online to Bulgaria, Cyprus, Estonia, Greece, Croatia, Latvia, Lithuania, Luxembourg and Romania, and Switzerland will follow. COS has also launched online in Japan and opened its first store in New Zealand. Monki will open its first store in the Philippines this year, while Weekday will open in Russia, just like & Other Stories, which will also open in Spain. Afound has opened a store in the Netherlands and will launch online in Germany and Austria.
The first H&M store in Panama is scheduled to open in the first half of 2021 via franchise.