Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail 301 Clothing retailer Hennes & Mauritz CE Karl-Johan Persson speaks during a news conference in Stockholm. Picture: REUTERS[/caption]HENNES & Mauritz (H&M), the world’s second-largest fashion chain, is the latest in a string of top global brands set to open shop in South Africa. H&M has signed a lease to open a store in the Mall of Africa in Johannesburg and is working to find a way to open in the V&A Waterfront in Cape Town, according to sources. Mall of Africa, which is due to open at the end of 2015, is being developed by Atterbury Property Holdings. A confidentiality agreement is in place, and the retailer is working on finding premises in Cape Town. H&M looked at the previous Pick n Paysite in the V&A Waterfront, but that did not materialize and is now looking at other options. More Articles You Would Love London’s Anya Hindmarch Collaborates With Nigeria’s Dye Lab To Serve A Fabulous Capsule Kaftan Collection PICS: Ghanaian Rapper Freda Rhymes Upgrades Her Style In This Haute Fringe Dress & Fur Jacket H&M has been keen to get into the local market but, similarly to clothing and accessories retailer Zara, is finding it difficult to secure prime space in the size it requires at top centers. The retailer also looked at Sandton City, but it has not yet found a suitable site there. The Swedish retail giant pioneered the concept of fast-fashion stores by collaborating with top designers and celebrities. It is playing catch-up with Zara, which is owned by Inditex of Spain, and Arcadia Group’s Topshop, both of which are now operating in South Africa Hennes & Mauritz has six independent brands, including Weekday, and operates in more than 40 markets. The fashion chain opened its first store south of the equator in Chile in March and is expected to expand further around the world. H&M is keeping its cards close to its chest, but CEO Karl-Johan Persson told the Financial Times in May that the group was considering starting production in South America and Africa. The group was founded by Karl-Johan’s grandfather, Erling, and was previously run by his father, Stefan. Source: Sunday Times: Business Times HENNES & MauritzhnmlaunghSouth Africa Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail Abigail Oluwakemi I'm a fashion stylist turned blogger, I hope you love my work. More For You #OOTD: Nigeria’s Prudential Atelier Shakes Up The Internet With This Astonishing Wedding Guest... VIDEOS: King Promise & Sarkodie Show Men How To Drip In Kente &... FCCPC Shuts Down Chinese Supermarket In Nigeria That Banned Nigerians From Entering VIDEO: Watch Exclusive Designs You Missed At The Just Ended SA Fashion Week... #OOTD: Shams Berry Merges Elegance & Sultriness in Magbrien’s Striking Bustier Ensemble VIDEO: Watch The Moment Two Young Chinese Boys Were Over Excited To See... Muyishime Unleashes The ‘Conlang Collection’: A Bold Step Towards Inclusive Fashion #OOTD: Crochet Like You’ve Never Seen; Witness The Stunning Crochet/Kente Print Look By... #BIKINIBAE: Cute Grenadian Beauty Reysher Is Serving Stunning Swimwear With Unparalleled Grace &... VIDEO: Rihanna Promises Ayra Starr A Verse After Rick Ross Failed To Create... Leave a Comment Cancel ReplyYou must be logged in to post a comment. This site uses Akismet to reduce spam. Learn how your comment data is processed.