ON THE SPOT
H&M poised to open giant Canal Walk store as it settles in for long haul after finding its feet
Business Day asks H&M South Africa country manager Pär Darj if the retailer is overextending itself
As consumer confidence plumbs depths not seen since 1982, Swedish fashion giant H&M is set to open a 4,600m², two-level temple to shopping in Canal Walk in November as part of six more store openings before year-end. That will take it to 17 stores in just two years’ operation in SA. Business Day asked H&M South Africa country manager Pär Darj if the retailer is overextending itself. We’re in 60 markets – we are able to turn things around if there is local difficulty. We have been amazed at the reception [in SA]. I think this is … only a short-term situation, this enables us to go on and [secure] stronger sites for the future: we’re going to be here many years. Is there a limit to the number of stores you are likely to open? It all depends on how the market is growing, but from when we came here and looked at the market three or four years ago we established you are sixth-placed in the world in terms of square metres of shopping malls per inhabitants, which is a fantastic opportunity...
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