Last update: 16:11 | 11/08/2017
Hennes & Mauritz AB (H&M) announced opening its first store on September 9, 2017 at Vincom Centre Shopping Mall in Ho Chi Minh City.
H&M's flagship store will open in Ho Chi Minh City
“This is the most favourable time for us to join the Vietnamese market, H&M’s 68th market with great potential in the retail sector. With various diversified fashion products, we hope to meet our customers’ expectations and inspire them to explore and create their own style,” Fredrik Famm, H&M Southeast Asia country manager, said.
Vietnam is one of H&M’s five newest markets in 2017. Also, this year marks H&M’s 70th year of continuously providing trendy and fashionable clothing at a reasonable price for customers across the globe.
H&M’s flagship store in Ho Chi Minh City will present abundant fashionable clothes and accessories for fashionaholics.
The store in Vietnam will follow all common standards of H&M’s flagship stores. Its inside furniture will create a bright space with clothes and accessories placed orderly at the middle. This aims to bring about convenience for customers while shopping. Modernity and luxury are combined in a harmonious and interesting setup through the mixed-material furniture. All of these features promise to bring customers an inspiring journey in the fashion world of H&M.
This outlet will sell the newest designs of fashionable H&M women, men, and children clothes, which are traditionally the best selling items in any H&M outlet, at a reasonable price.
Especially, H&M’s Autumn-Winter collection, which was published in July, will be available in the Vietnamese branch right from the opening day. Afterwards, it is expected that H&M’s other global collections will be introduced in Vietnam, such as The Weeknd Collection, ERDEM x H&M, as well as the Holiday collection, which is scheduled to be released at the end of 2017.
On the opening day on September 9, the H&M outlet will open from 11.00 AM to 10.00 PM. There will be countdown activity and performances by various DJs, and notably, some limited H&M handbags and many other gifts will be given to the first 1,000 customers.
After the opening day, the H&M store will be open every day from 9.30 AM to 10.00 PM.
Two days before the opening day, on September 7, there will be an event for H&M’s VIPs, providing them with a unique shopping experience and interesting performances by famous Vietnamese DJs.
In 2017, H&M set a 10-15 per cent target for sales growth, with continued high profitability. It also scheduled opening about 430 new stores and expanding to Kazakhstan, Colombia, Iceland, Georgia, and Vietnam.
In the first half of 2017, H&M’s sales increased to nearly SEK 114 billion ($14 billion), an equivalent of 9 per cent growth compared to the same period last year. Its profit after financial items increased by 6 per cent to nearly SEK11 billion ($1.4 billion). H&M’s after-tax profit in this period amounted to SEK8.4 billion ($1 billion), corresponding to SEK5.05 ($0.6) per share.
From H&M’s first half performance, it is forecasted that the corporation’s target for the whole 2017 is well within reach, as the year-end is usually the peak shopping season.