H&M OPENS THE FIRST STORE IN KOREA

H&M has signed an agreement to open its first store in South Korea. The store will be located in the best business location in Myungdong in Seoul and is planned to open during the spring of 2010. The sales surface will be approximately 2,600 sqm. Negotiations are currently under way for additional store contracts in the Seoul area.

– We look forward to establishing in South Korea. We have positive experiences from our establishments in Japan, Hong Kong and China and see South Korea as a natural consecutive step. South Korea has 49 million inhabitants, of which 23 million in the Seoul area, with a great interest in fashion and purchasing power, says Rolf Eriksen, CEO at H&M.