Throughout May H&M Group are expanding some of their brands online into 9 new markets, namely: Estonia, Latvia, Lithuania, Luxembourg and Croatia which launched on 14th May. These will be followed next week by Greece, Romania, Bulgaria and Cyprus.
Head of New Business, Anna Attemark, said “As part of our ongoing digitalisation, we are pleased to roll-out ecommerce for COS, Weekday, Monki, & Other Stories and Arket in these new markets…”
The brands in questions are COS, Weekday, Monki, “& Other Stores” and Arket which are all more focused fashion based brands of H&M Group.
As with other large clothes retailers H&M have seen a significant 32% growth during the early COVID 19 period and are likely looking to capitalize on this given the closure of stores have forced a 57% overall decline in the same period.
It’s unlikely this will stop but probably slow their offline expansion, with over 5000 stores globally already. At this stage it makes sense to instead expand their 51 country online reach while building foundations for more stores to open later.
Their expansion strategy includes partnering with marketplaces in emerging markets (where most buyers shop) including opening brand stores on Tmall. Since last year they have also been trialing their own in-store and online marketplace in Holland.