H&M’s latest offering to Aussie shoppers
H&M is preparing a new offering for Aussie shoppers in the latest challenge to traditional retailers. The bold move comes as local chains like Jeanswest and Bardot falter.
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H&M will launch an online shopping offer later this year.
The local arm of the fast fashion giant today announced it would provide Aussie shoppers with an online option in the second half of the year.
The e-commerce move – which will further test the nation’s traditional retailers – comes six years after H&M first entered the Australian market.
It also follows the world’s second biggest fashion retailer announcing its Australian sales had hit a new record high of more than $390 million in 2019.
“We are extremely excited to launch online shopping in Australia later this year,” Australian country manager Thomas Coellner said today.
“This significant milestone will fully round out H&M Australia’s multichannel offering. We look forward to providing 24/7 access to our fashion and creating new experiences for our customers.”
Hennes & Mauritz AB, which trades as H&M, first entered the Australian market in 2014.
It has been warmly embraced by local shoppers, building a network of 40 stores and turning a profit in its second year of operation.
H&M Australia’s move into online shopping presents a new headwind for traditional retailers such as Myer, Just Jeans, Jay Jays and Country Road which have all developed e-commerce offers.
H&M traditionally enters a nation with a bricks and mortar offer before rolling out an online one.
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It launched online shopping in the US in 2013 – 13 years after it first entered that market.
The Australian announcement follows the retailer announcing its global sales rose 11 per cent to $US24.1 billion ($35.9 billion) for the year to November 30.
Its Australian sales rose 11 per cent to $392.2 million, the update shows.
The numbers also include the contribution of COS which is also owned by Hennes & Mauritz AB.
H&M is the second biggest fashion retailer in the world in terms of revenue, with Zara being the biggest.