H&M to open in highly competitive centre

Source: https://www.insideretail.com.au

H&M has revealed the latest target in its ongoing Australian expansion, eyeing off the highly competitive Robina Town Centre on the Gold Coast as its next store opening.

The Swedish fast-fashion giant said on Wednesday that it will open a new location in the centre in the second half of 2018, bringing its total number of locations Down Under to more than 30.

It spells trouble for local retailers like Myer and David Jones, who are also present in the centre and have been ceding market share to online fast-fashion retailers in recent years as they move into the neighbourhood.

In April international beauty retailer Sephora launched in Robina Town Centre, drawing an 800-metre line outside its store on launch.

The Gold Coast sits as an attractive expansion opportunity for international entrants, particularly after several years of heavy investment in Sydney and Melbourne.

H&M was tight lipped on details about the new store, but it comes amid a slight slowdown in the progress of international fashion entrants in Australia recently, following several years of explosive growth.

H&M launched in Australia in 2014 and has primarily focused on locations close to densely populated CBD areas.

Other recent opening announcements include Rundle Mall Plaza in Adelaide.



Categories: Australia, Business, Retail

Tags: , , ,

%d bloggers like this: