Business

H & M Heads to South Africa, Signs Lease to Open Store

“The world’s second-biggest fashion retailer, Hennes & Mauritz, has signed its first lease to open a store in South Africa, according to a press report.

South African weekly Sunday Times said in an article re-run on daily Business Day’s website that the Swedish retailer has signed a lease for a store in a mall that is due to open in 2015 in Johannesburg.

An H&M spokeswoman, which has yet to open a store in Africa, said South Africa is one of many markets it finds interesting but declined to comment further. The company opened its first store in the southern hemisphere in Chile earlier this year.

Sunday Times, which is part of the same media group as Business Daily, did not disclose its sources. H&M was also searching for suitable store locations in Cape Town, it reported.

H&M’s biggest rival, Zara owner Inditex, opened its first Zara store in Africa, in South Africa, in 2011.”

-Reuters/Yahoo
Photocredit: Beyonce Models H &M swimwear

Ladybrille Magazine

Founded in 2007, Ladybrille® Magazine is a California based pioneer digital publication demystifying the image of Africans in the west through contemporary African fashion and celebrating the brilliant woman in business and leadership, with an emphasis on the African woman in the diaspora. Our coverage includes stories on capital, access to markets, expertise, hiring and retention, sales, marketing, and promotions.

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