Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail 322 Swedish fashion retailer H&M, Europe’s second-largest clothing retailer, launched its first South African shop Friday with more in the works and plans to use South Africa as a springboard to the rest of sub-Saharan Africa, IndependentOnline reported. H&M (Hennes & Mauritz) opened at the V&A Waterfront in Cape Town and is exploring the feasibility of opening a local manufacturing facility. More stores are planned including one this month in Johannesburg’s Sandton City as well as others in Southern, East and West Africa. More Articles You Would Love #HAUTE: Ghanaian Designer Bombaare Just Dropped All Jaws With This Amazing African Print Wedding Guest Dress Take A Look At These Beautiful Bridal Beauty Look Inspirations H&M does not offer store credit like a lot of other retailers do because its focus is on selling fashion, not running finance operations, said Par Darj, the country manager for H&M South Africa. The company will differentiate itself in South Africa by focusing on what it does best –being a traditional retailer, Darj said. He described H&M’s merchandise as “democratic fashion” — high quality, easy and affordable for people who ordinarily might not be able to buy fashion. South Africa is a fashion-oriented market, Darj said. “There is a very big fashion interest, especially if you look at the middle class and the aspirational market.” Darj worked as H&M country manager in the U.S. from 1999 and 2001, and country controller for H&M England in the 1980s. A lot of retailers hurt themselves when it came to extending credit — trying to be a bank and a retailer, Darj said. “If you want to be a bank that is fine. We will focus on retail…We don’t offer credit, but you can pay with your credit card.” South African retailers are currently between a rock and a hard place as high consumer debt weighs on household spending and competition puts pressure on margins, IOL reports. H&M’s entry into South Africa resulted in about 600 jobs leading up to the opening of the V&A Waterfront and Sandton City stores with 60 staffers sent to Sweden for training. H&M plans to have as many as 1,500 people employed within 12 months. In the long run, H&M plans to use South Africa as a springboard to the rest of southern Africa, East and West Africa. H&M is thinking about opening a local manufacturing facility, Darj said. It already has a production factory in Ethiopia, opened in 2014. “We will see what is possible in South Africa,” he said. H&M’s arrival is part of a flurry of activity for South Africa’s large shopping centers, where demand for space from other top international brands has included Burberry, Cotton On, Top Shop and Zara. H&M will probably learn from the expansion strategies of its peers Zara and Cotton On, said JP Verster, an analyst at 36One Asset Management, IOL reports. Zara had a cautious strategy of opening a handful of stores in South Africa, Verster said. Cotton On had an aggressive strategy. H&M operates 3,500 stores in 57 countries including Egypt and Morocco. Source: afkinsider.com South Africa Remember to Shop Your Print Look from Our Online Boutique at https://www.fashionghana.com/shop [featured_products per_page=”8″ columns=”4″] See More Here https://www.fashionghana.com/shop fashionhandmretail storeSouth Africasub sahara africa Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail Abigail Oluwakemi I'm a fashion stylist turned blogger, I hope you love my work. More For You #BeautyOfTheWeek: Proud Jamaican Influencer Anthena, Scoops Our BOTW of the Week With Her... Fashion Week Organizers from Across Africa Assemble in Ethiopia to Forge A Cohesive... Leading Ghanaian Menswear Brand ‘Kustom Looks’ Takes Over ‘All Africa Games 2023’ With... #OOTD: Berla Mundi Serves Haute Couture As She Shakes The Net With A... VIDEO: Arisar (Barbados) @ Accra Fashion Week 2023 VIDEO: Wig Wearing Black Mom Hospitalized With Horrific Skin Reaction & Illness After... A Detailed Insight Into Ethiopia’s TechStitched Fashion Program & The Participating Fashion Weeks... Cornrows With Cowry Shells: A Red Carpet Show Stopper & A Modern Twist... PICS: To Much Glamour; Check Out Bonang Matheba, Swanky & More At The... AFI Reschedules Cape Town Fashion Week For 2024 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.