H&M plans franchise branches in the Middle East
The Swedish clothes chain, Hennes & Mauritz, is looking to continue the expansion of its system. According to a report from the ddp agency, it is also intending to open up franchise branches in the Middle East, for example in Kuwait or Dubai. Besides this, the company is hoping to increase sales through more online and mail-order business. This move is to be officially started in the Netherlands in the autumn of 2006. 150 new shops are planned for the business year 2005/2006, especially in the USA, Spain, Germany, Great Britain, France and Canada.
Germany remains the most important market for this Swedish
firm having 288 H&M stores across the country and a turnover of 5.5 billion
kronor (a plus of six percent) during the last quarter. According to H&M,
its global turnover rose from 53.7 billion to 61.3 billion kronor (6.6 billion