H&M major presence in Mideast
Dubai: Swedish fashion chain Hennes & Mauritz (H&M) will officially break into the Middle East retail market on Wednesday with two store openings in Dubai’s Mall of the Emirates and a third set to open in Ibn Battuta Mall on September 13.
Following its success in Europe, where robust growth bucked market trends, the clothing company is planning to establish a significant Gulf presence after its openings in Dubai and in Kuwait’s Marina Mall on September 20.
The chain is renowned for designing affordable but highly fashionable clothing for men, women and children and boasts more than 1,200 stores in 22 countries.
With pop diva Madonna at the forefront of its marketing campaign and avant-garde Dutch designers Viktor and Rolf contributing to the Dubai range, H&M chairman Stefan Persson is confident of regional success.
“There are a lot of fashion-conscious people from Middle Eastern countries who shop in our European stores and greatly appreciate what we are offering. I am confident the brand is already well known and the demand is here.
H&M’s entrance into the Middle East retail market follows a franchise agreement with M.H. Alshaya, the Kuwait-based conglomerate which runs Boots, Debenhams and Starbucks Coffee.
Persson denied that H&M will lose control of its brand strategy, arguing that Alshaya’s regional experience will help it break into the Gulf’s complex retail market.
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