On 17th October 2015 the first H&M in South Africa opened its doors at the V&A Waterfront mall in Capetown. A very confident statement by this company, committing a store in an unknown market the size of 4,700 m2
The week after opening I wrote a blog titled “H&M to change the retail landscape in South Africa”.
My sources tell me, and I have no reason to boubt them that within six months of opening this Capetown store was the third largest H&M store from a revenue point of view in the world. Now in June 2016, it’s just moved up one place and is now second in the world behind a store in Australia.
That is an unbelievable achievement for this company and its also an indication on how Capetonians are hungry for new and exciting retailers to shop in. The general public have taken to the store, the product, the prices and are voting with thier hard earned rands. While our local retailers such as Edgars, Truworths, Foschini etc continue to offer the same familure merchandise ranges, H&M have brought along great fashionable product at affordable prices.
They also offer genuine promotions through “Deal of the week” and currently they have an abundent number of styles of ladies and gents winter jackets on sale at less 50%.
This gives the consumer the chance to buy in season merchandise at a proper sale price. Other retailers tend to offer R200 off or if on sale its at less a third which cannot compete with H&M.
As I stated nine months ago H&M is changing the retail landscape in South Africa.
enjoy your shopping.