Retailer reports 10% rise in Christmas sales and plans new flagship
Fashion retailer H&M is due to open a new flagship store in London’s Covent Garden in Autumn this year. The store will be located on Mercer’s Yard within a historic 19th Century warehouse.
The store is set to house H&M’s range of male and female clothing as well as its recently revamped beauty line.
The news comes shortly after the retailer shared a 10% year-on-year rise in profits during Christmas 2015, partially helped by its popular Balmain collection, which generated a huge amount of consumer interest on social media and sold out shortly after going on sale.
Bill Scarborough, Chairman of Long Acre Estates, commented: “We are delighted to secure H&M as the anchor retailer for Mercer’s Yard. It is important to the company that the redevelopments retain the Covent Garden character and this refurbished warehouse building does just that. It forms the centrepiece not just for Mercer’s Yard, but our entire Covent Garden Estate, providing a superb retail flagship store.”
H&M currently has 257 stores in the UK and Ireland.