By  on December 11, 2006

Sweden’s Hennes & Mauritz said Monday it would open its first store in Japan in 2008, pointing to a period of accelerating growth for European fast-fashion firms in Asia.

Construction has started on the 15,000-square-foot shop, which will be located in Tokyo’s Harajuku shopping district. It is expected to be the first of a string of stores in Japan for H&M.

“Japan is an exciting market for H&M, with fashion-conscious consumers with great spending power,” said Rolf Eriksen, H&M’s chief executive officer, in a statement. “With a population of 128 million, and almost 13 million in Tokyo, we see great opportunities for expansion in this part of the world.”

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