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.
Growth and integrated channels
Covid-19 is speeding up the digital shift in the industry as more and more shopping takes place online. To meet customers’ expectations of a convenient, inspiring experience enabled by interacting channels, the company’s transformation work is being further accelerated. This relates to, among other things, increased digital investments, further integration of online and physical stores as well as an acceleration of store consolidation.
More closures than previously are expected to result in a net decrease of around 50 stores in the current year, since 180 stores are planned to close permanently rather than the previously communicated 170, and 130 new stores are planned to open. For 2021 the plan is for 350 stores to close and just over 100 new stores to open, resulting in a net decrease of around 250 stores.
The H&M group’s expansion online continues. In the third quarter H&M was launched on the ecommerce platform SSG.COM in South Korea. Australia is scheduled to become a new H&M online market towards the end of 2020. COS, Monki, Weekday, & Other Stories and ARKET have in 2020 expanded online to Bulgaria, Cyprus, Estonia, Greece, Croatia, Latvia, Lithuania, Luxembourg and Romania, and Russia and Switzerland will follow. ARKET has opened on Tmall in China. COS has launched online in Japan and opened its first store in New Zealand. Monki has opened its first store in the Philippines this year, while Weekday has opened in Russia, just like & Other Stories will, and Weekday will also open in Spain. Afound has opened a store in the Netherlands and launched online in Germany and Austria.
The first H&M store in Panama is scheduled to open in 2021 via franchise.