Stockholm-based fashion retail brand H&M (Hennes & Mauritz) launched its first two stores in the UAE yesterday in a franchising agreement with MH Alshaya, one of the Middle East's leading retail groups.
While the Mall of the Emirates will house the first two H&M stores (one targeted at families and the other at the youth), the third store in the UAE will open in Ibn Batuta Mall on September 13. The fourth store will open in Kuwait's Marina Mall on September 20.
"We have many more H&M stores planned for the Middle East market. Although we cannot share all the details just yet, all we can say is we are here to stay," Kristina Stenvinkel, the global Corporate Communications head for H&M, told Emirates Today.
H&M, which has a network of more than 1,200 stores in 22 countries, specialises in high quality fashion collections for women and men of all age groups.
There are several concepts within this, consisting of modern basics, current fashions and clothes that reflect the latest international trends. And the collections are supplemented by matching accessories. It also has its own brand of cosmetics Meanwhile, Alshaya group's retail portfolio comprises more than 42 retail brands operating through more than 1,000 retail outlets across the Middle East, Turkey and Russia. "We have 400 more retail stores planned in the Middle East next year," said Mohammed A Alshaya, Chief Executive Officer of M H Alshaya group.
"This is a much-awaited time for the fashion and retail industry in the Middle East. There is a huge market potential for H&M and M H Alshaya enjoys the regional knowledge and retailing expertise. The wide assortment on offer coupled with the introduction of new garments into the store everyday makes it quite a unique offering within the Middle East," he added.
"We are very proud to open our first stores in this fast growing region with high fashion awareness and spending power," echoed H&M's CEO, Rolf Eriksen.
Covering a very wide variety of sectors, some of the other global brands in M H Alshaya portfolio include Debenhams, Bhs, Next, Claire's Accessories, Boots, MAC, and Starbucks.
By Shweta Jain
© Emirates Today 2006
