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SWEDISH FAST-FASHION CHAIN H&M has capped 20 months of rising global sales only 4 days before the launch of its new flagship store in Dublin.
The budget clothing retailer, known for enlisting celebrities for its marketing campaigns, reported its sales were up 10% in November when compared to the same month last year.
Sales for H&M, an abbreviation of Hennes & Mauritz, were up 14% over a full year, outstripping the company’s rapid-fire growth in its number of outlets.
H&M reported sales for the three months from September to November were up 11% to about €4.5 billion for the period, excluding sales taxes.
It has 3,511 outlets open worldwide at the end of November compared to 3,132 for the same time in 2013 – an increase of about 12%.
The company already operates 14 stores in Ireland and will open the doors for its latest outlet, a new flagship store in the former National Irish Bank building on College Green, on Thursday.
H&M had been among many retail chains that complained of weaker-than-expected autumn sales because of unusually warm weather putting shoppers off stocking up on winter lines.
However the company has still delivered an increase in total sales every month since March 2013.
H&M has recruited celebrities from David Beckham to Beyoncé to front its campaigns, although it has been criticised for using computer-generated models to show off products on its website.
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Lot of hate on here but I love H&M. Great clothes and not overpriced.
Dunno why anyone buys Penneys ill-fitting, poor quality clothing when for literally a couple of Euro more you can get decent stuff in H&M.
External investment continues – Wetherspoons, Tesco, McDonald’s, Deals, Aldi etc. etc.
Investment is a good thing. Confidence in the market. Jobs created. What every country needs.
It you walk from Stephens Green to Parnell Square – looking at the retail outlets – you could be in Glasgow, Sunderland or Lyon.
Just like the rest, we’ve lost our our identity completely.
Every high st in Europe has the same craps.
only if you define your national identity based on shopping.
I couldn’t care less where these shops come from or what “identity”they’re making , as long as they’re creating stable jobs and lots of them.
99 – ‘national’ wasn’t typed. Keep up.
What’s a high st
I love H&M, they do a good range of affordable clothes. I’ve been getting a lot of good work shirts there ever since I stopped buying charvet.
Dame street will become Dublins new shopping street. Always wondered why Abercrombie and Fitch never bought the building H&M are now in. It was on the market last year for €3 million. A&F pay an annual rent of €900k for the building they’re in.
Always thought that myself, would have had it paid off already!
Hoorah for cheap one wash clothing and the poor sweat shop workers who have to manufacture them.
I dunno. H&M is a member of the Ethical Trading Initiative apparently http://www.ethicaltrade.org/about-eti/our-members
Every clothing company basically uses the same sweatshops, without these clothing would be much more expensive, which most people wouldn’t be prepared to pay. Also no matter how expensive or cheap clothing is, all companies have had their own ethical scandals in this regard, no company is immune due to the fact they often outsource manufacturing to distance themselves if anything does go wrong
Kevin – do you include M&S?
Well a lot of main stream clothing is manufactured in very impoverished parts of the world paying pennys to anyone whos willing to work 12 hour shifts every day but top top brands create all designs from the respected countries they originate from, Italy, France etc. That aside Id happily pay a bit extra if i knew 100% that the poor who slave over our materialistic needs where given the decent wage so they dont have to suffer for our benefit!
Just open in Galway already!
have your say