Swedish clothing retailer Hennes & Mauritz has outlined its plans to unveil 325 new outlets in the year 2013 to expand its international retail presence
The expansion plan also includes the launch of ‘&OtherStories’ outlets, augmenting the retailer’s e-commerce platform and foraying into several emerging markets.
H&M is expected to incur a cost of $1.07bn to fund its expansion efforts.
The retailer will make its debut in Chile, Estonia, Lithuania and Serbia while Indonesia will see the opening of an H&M franchised outlet.
H&M CEO Karl-Johan Persson remarked that the brand’s current footprint extended across 48 markets with 2,800 outlets.
Persson remains optimistic of the company’s expansion targets despite the adverse economic climate worldwide.
"We have the greatest respect for the macro-economic climate and how it may affect the consumption in many of our markets, but we have a strong belief in our offering and are convinced that H&M will continue to maintain its strong position," said Persson.
The company believes that the Chinese market is set for the highest rate of expansion in 2013, followed by the US.
Newly unveiled brand ‘&Other Stories’ will open its first stores in Spain, Germany, Denmark, UK, Italy, France and Sweden.
The brand will also be available via stories.com in these countries besides Belgium, the Netherlands and Finland.
H&M unveiled its mobile-adapted ‘H&M shop online’ for its existing eight markets with an e-commerce presence.