Swedish Fashion Giant H&M&Nbsp; Next Year Expands China'S Largest Store.

Swedish fashion retailing giant Hennes & Mauritz is once again focusing its attention on expansion plans to meet China's growing demand.

In an interview, chairman Karl-Johan Persson said that although China has plenty of opportunities, competition has intensified.

Persson: "now it takes a lot of efforts to succeed in China.

Moreover, as many retailers move to China, competition is also increasing rapidly.

Competition is fierce now, and it will be more intense in 10 years. "

H&M entered the Chinese market in 2007. Now it has 64 stores, and it has 2410 stores in the world.

According to the Swedish Commercial Bank (Handelsbanken), H&M's profitability in China is stronger than in any other market. The bank expects that the number of H&M stores will double three times in the next three years.

Persson said China is the country with the most stores in H&M next year.

"We have entered cities such as Changchun, Nanjing, Guangzhou and Kunming and are planning to open stores in more cities next year," he quoted.

Compared with the previous year, H&M plans to add 10-15% stores, and the expansion rate will double in the next 5 years.

Persson shows that there is still a lot of growth opportunities in the mature market.

He continued: "we particularly hope to grow in France, Italy and the United Kingdom."

"Of course, the situation is hard.

Compared with what we have seen for a long time, there are too many price competition and price reduction activities.

The European market is unstable.

But despite the recent downturn, we still get market share. "

In the US, H&M has about 200 stores, and Persson says there is a bigger market.

At the same time, Persson said H&M is looking at some Asian countries.

He also said that despite the problem of anti season, the company had a strategy to enter the southern hemisphere market.

He also wants to expand the product line of H&M.

In 2009, H&M Home launched a series of home clothes sold in H&M clothing stores in some countries. Persson said she plans to launch new product categories in the coming years.

With regard to the Internet, Persson: "in the 8 countries that we now provide products, online sales are in good condition.

Next year, we will open a new store in the United States. This idea will open up the way of online sales in all countries with physical stores.