H&M to open as many as 54 US stores in 2015

H&M announced plans to accelerate the U.S. expansion, opening 36 to 54 new stores 2015, which includes a 63,000-sq.-ft. flagship in New York that will be the biggest unit worldwide. The expansion will include the growth of its Cheap Monday brand, along with the opening of some big new flagships.

Cheap Monday is a big wholesale business in the United States, run by a third party, but H&M is planning on taking back control of the operations, reported Women's Wear Daily.

Cheap Monday opened a New York showroom back in January. Thus far the brand is mostly found in department stores or shop-in-shops.

H&M will also open more stores for its sister brand, & Other Stories, which launched its first U.S. location in Manhattan last year. Thus far, the brand has been well received and will be expanding further.

Having enjoyed a stellar first quarter, the retailer announced a 36 percent jump in profits last month and reaffirmed its commitment to opening 400 new stores worldwide this year.

The company is also working on new designer collaborations that will launch in the fall, as well as a new beauty concept that will replace the current selection.

For more:
-See this Women's Wear Daily article (subscription)

Related stories:
H&M profits jumps 36%
H&M to open 400 new stores, launch beauty brand
E-commerce has positive effect on H&M's November sales
H&M gets David Beckham to go shirtless for the Super Bowl
H&M to pay textile workers living wage by 2018
 

 

Suggested Articles

Costco changes up its menu items, and Alibaba and Guess partner for a physical store.

Janey Whiteside, Walmart's new chief customer officer, is well acquainted with the importance of customer service in modern retail.

Whole Foods will offer deals on Amazon's Prime Day, and tariffs against China are causing pricing hikes.