H&M opens up in Turkey

Turkey will see the launch of its first Hennes & Mauritz store. The Swedish company signed a contract to open a store located at the shopping centre Forum Istanbul. The store will feature around 2,300 square metres and the opening is set for November 2010.

On the store opening Karl-Johan Persson, CEO of H&M commented: We are very pleased to open our first store in Turkey. It is an interesting market with a large, young and fashion-conscious population, which offers great potential for future expansion. Since long, we have business relations with Turkey through our production office. Now we are looking forward to offering customers in Turkey fashion and quality at the best price.”

H&M was established in 1947 and is quoted on Nasdaq OMX Stockholm. In addition to H&M, the group includes the brands COS, Monki, Weekday and Cheap Monday. The H&M Group has around 2,000 stores in 37 markets. In 2009, sales including VAT were SEK 118,697 million and the number of employees was around 76,000.