Pursuits
H&M Sees Room for 4,000 New Stores Even as Amazon.com Encroaches
- Swedish clothing retailer could reach that level in 4-8 years
- Amazon has reportedly started its own fast-fashion brands
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Hennes & Mauritz AB Chief Executive Officer Karl-Johan Persson forecast the clothier will more than double its number of stores to close the gap with larger rival Inditex SA and as Amazon.com Inc. increases competition in fast fashion.
“I think we will go to 7,000, 8,000 stores plus and beyond,” Persson said Wednesday in a phone interview. “We’re not stressed to reach a certain size or to be number one but it’s still expansion ahead of us.”