Swedish fashion retailer H&M has plans to set up stores at Chadstone Shopping Centre and Pacific Werribee.
The two new stores in Melbourne will mean that the company is set to have four outlets in the city. Stores in Chadstone Shopping Centre can be promoted by marketing services in Narre Warren.
H&M came to Australia in 2014 and has already managed to make profits, and the number of its outlets has increased significantly since the opening of its first Australian store. At the moment, H&M has ten shops across the country, but two more Sydney stores are in the pipeline, while further openings have been planned for Newcastle and the Gold Coast. There should be 16 operational H&M shops nationally before 2016 comes to an end.
Australia has become a buoyant market for H&M in recent times. The healthy demand for its products has allowed the business to declare a profit of almost $4m in 2015. This was a turnaround from the $1.5 million loss that had been recorded for the previous year. Analysis has suggested that the situation in 2014 was affected by the considerable investment made in rolling out new shops.
The weather could have an influence on the profits made by H&M within Australia in the near future, with some analysts suggesting that demand for its fashion could be dampened by a warm ending to summer.
