H&M to launch Romanian online store in 2015

Swedish fashion retailer Hennes & Mauritz (H&M) Tuesday said it will launch an online store in Romania in 2015. The retailer currently operates 37 stores in Romania.

Also next year, H&M plans to open online shopping stores in Belgium, Bulgaria, Czech Republic, Hungary, Poland, Portugal and Slovakia.

H&M Romania saw sales go up in the first quarter of the current fiscal year (December 2013 – May 2014) by 34 percent, to EUR 61 million, according to Mediafax. In RON, H&M’s sales were up 30 percent, including VAT.

During this time, the Swedish retailer opened 7 new stores and reached a network of 35 units on the local market, according to a press release from the company.

In the second quarter of the fiscal year, March – May 2014, H&M Romania registered a 36 percent increase of sales to EUR 33.4 million. Five new stores were opened during this time.

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In 2013, H&M sales crossed the EUR 100 million threshold and the retailer obtained EUR 5.4 million in net profit, up 52 percent.