Two of fast fashion’s biggest players are plotting their geographic expansion to new markets.
Hennes & Mauritz said Thursday that it has signed a contract to open its first flagship in South Africa in 2015 at the earliest. H&M chief executive officer Karl-Johan Persson said the brand sees “great potential for further expansion in this region.”
Meanwhile, Fast Retailing Co. Ltd.’s Uniqlo said Thursday it plans to open a 29,000-square-foot flagship in Berlin’s Tauentzienstrasse shopping district next spring. The store will mark the brand’s entry to the German market and give it a presence in a fourth European country after the U.K., France and Russia.
“Uniqlo is a giant globally, but we are still a challenger brand in Europe. We have been focusing our presence in Paris, London and Moscow, and we are enjoying attractive growth rates despite a commercially demanding environment,” said Berndt Hauptkorn, Fast Retailing’s group officer and Uniqlo Europe ceo. “The opening of our Berlin store marks a step-change for us. The German-speaking market will offer great opportunities for Uniqlo, as well as other major markets and cities we are considering across Europe, including Barcelona and Milan.”