H&M plans China, Asia expansion
Hong Kong Fashion retailer H&M announced Thursday it would up its store count in China by almost 30% by the end of 2009. The increase comes as part of H&M’s expansion plans for Asia, Reuters reported.
H&M said opening stores in Hong Kong helped pave the way for the company’s expansion into Asia.
“We are using it (Hong Kong) as a platform to operate in Asia, because after mainland China, we also opened in Japan. We will also open in Korea next year,” Lex Keijser, H&M Greater China country manager, told Reuters.
“It (the Asia market) could be the newest and biggest market for H&M in future, because there is so much potential if you look at Asia. We’ve just started in Hong Kong, mainland China, Japan and Korea,” Keijser said.
H&M currently has four stores in Japan and is opening its first unit in Korea in March. Present Greater China totals are 21 stores, slated to increase to 27 by the end of December.
H&M has over 1,800 shops in more than 30 countries, with its principal markets in Germany, the United Kingdom and Sweden.
NAI expands northeastern Pennsylvania presence
Princeton, N.J. NAI Global said it is expanding its coverage in northeastern Pennsylvania with the signing of Summit Management and Realty Co.
The firm will now operate as NAI Summit, and will serve Carbon, Lehigh and Northampton counties.
Babel Fair to open Manhattan store
New York City International women’s apparel boutique Babel Fair has leased space in Manhattan, on Elizabeth Street, between Prince Street and Houston Street, according to leasing agent Prudential Douglas Elliman.
The retailer will debut Denim Factoria from Spain, Anaphora Handbags from England and Dzitnup Designs from Mexico. Retail neighbors include Tori Burch, Ilus, Me & Ro, Soho Baby, Rainbow Sandals, Area I.D. and Seize sur Vingt.