Romania was Swedish fashion retailer H&M’s worldwide sales growth star between December 2012 and February 2013. Sales in Romania increased by 48 percent year-on-year to reach around EUR 22.5 million during this period. Expressed in local currency (RON), the rise in sales was even more dramatic – up 59 percent.
The rate of sales growth put Romania at number one in the world for H&M, ahead of Singapore, up 47 percent, Croatia – 43 percent and Japan, which registered a 40 percent increase in sales between December 2012 and February 2013.
H&M has expanded rapidly since its entry on the Romanian market in 2011. The retailer now has 23 stores across the country, covering the major cities and including six outlets in Bucharest alone. The Swedish fashion giant has opened ten new stores in Romania since May last year and more are planned, including a shop in Bucharest’s Old Town.
Sales figures have been spectacular in Romania, showing huge increases since the first H&M opened its doors in 2011.
At a group level, H&M sales increased by some 6 percent to reach around EUR 3.33 billion worldwide. Sales in emerging markets, such as Romania, drove H&M sales growth over the period, as sales in some of the retailer’s big Western European markets fell.
H&M is the world’s second largest fashion retailer after Spanish company Zara. There are now around 2,800 H&M stores in more than 40 countries around the world. The company has some 104,000 employees.