The fashion sold in fast fashion store is sold at lower price and follow trend tightly. As the avant-courier of fast fashion store--Sweden fashion retailer Hennes & Mauritz AB will land Asia and plan to open two "complete conception stores" in HongKong and Shanghai for sharing China consumption market. Man's wear and woman's wear will be sold in the store.
This message is issued by this Europe second retailer in secondly financial season. At the beginning of this year, Spain retailer Inditex SA the main competitor of H&M enter into China to open ZARA franchised stores, followed by H&M nowadays. Other China retailers who want to march to china include Uniqlo under Japan Fast Retailing Co. and Italy jeans manufacturer--Diesel Spa.
The principle for H&M investment Nils Vinge show that the reason for company opening first Asia retailer store in China is "China develop fast and have an exciting market as well as powerful potential." He also add that about 60% of H&M fashion is produced in Asia, H&M have produced fashion in China for nearly 25years and touch China for many times by employing many China staff
H&M also show that they plan to open 10 new chain fashion retail store with single brand. These fashion stores will promote the fashion centering o special market, whose price also higher that general fashion collection of H&M.
At present, H&M have established about 1200stores in 20 countries and areas including the most important distribution market German, whose sale account for 30% of total group sale. In 2004, the sale of group is $8billion, increased by 24.9%.The number of employee in 2004 is 31701, increased by 11.5%.
