Swedish fashion retailer H&M sees over 40% growth in Romania

Swedish fashion retailer H&M’s sales in Romania went up by more than 40% in the first nine months of the group’s financial year, reaching some EUR 136 million. The company opened three new stores in Romania in this period, reaching 41 units, and launched its online store. Romania has been one of the fastest growing markets for H&M in the past years and has become the second biggest market in the region, after Poland. In the first nine months, H&M sales in Romania increased by 47% when expressed in Swedish krona (SEK) and by 41% in local currency RON. Australia was the group’s fastest growing market, with a 173% increase in sales (in SEK), followed by Mexico (88% increase), and Turkey (80% increase). The group’s sales in the US and China also increased by more than 50% (also when expressed in SEK). H&M’s total sales thus went up 21% in the first nine months, to some EUR 16.4 billion. The company reached 3,675 stores worldwide, 164 more than at the end of last years. The results are for the December 1, 2014 – August 31, 2015 period and include VAT. H&M opens biggest fashion store in Romania H&M leaves Zara behind as Romanians buy more fashion H&M launches Romania online store editor@romania-insider.com