The international apparel retailer Hennes & Mauritz has announced that the company plans to open 225 new specialty stores around the world in 2009, and its first specialty store will be opened in Beijing this spring.
H&M says in its report that its newly opened specialty stores in 2009 will be mainly located in the United States and Europe. However, the company is very interested in the two potential markets, Russia and China. It plans to open three new H&M specialty stores in Moscow, the Russian capital, before the end of 2009 and will open its first specialty store in China's capital Beijing in the spring of 2009.
Founded in 1947, H&M is the largest apparel retailer in Europe by sales. At present, it owns about 1,700 specialty stores in various major cities in the world, including Shanghai and Hong Kong, providing working opportunities for about 55,000 employees worldwide.