Swedish fashion and retail giant, H&M has announced it will open a second store as part of expansion plans aimed at capitalising on record sales results in the Australian retail market.
Australia has become the chain's strongest performing market anywhere in the world, with their Melbourne flagship store reporting A$78.43 million in sales in its first six months of operation.
H&M opened its first Australian store in Melbourne in 2014, where it welcomed 15,000 customers in its first day of trade - making it one of the most successful openings for the brand in the world.
Melbourne is the centre of the Australian retail industry – an exciting mix of international designer brands, flagship stores, local fashion retailers and world class department stores. Australia's retail industry is worth A$280 billion (sales per annum) with Victoria's retail market making up 25 per cent of the national total (A$69 billion).
The Swedish multinational fashion company is the world's second largest clothing retailer, and has 3,500 stores in 57 countries worldwide.
Its second Melbourne store will be located in Eastland, a major shopping facility, 30 minutes east of the city centre. The store forms part of Eastland's new $665 million development, which will expand the centre by 48,000 square metres. H&M is Eastland's first major partner announced so far in as part of itsexpansion, with more local and international brands to be announced. The store will be the fifth H&M retail location in Australia.
A spokesperson for H&M said, "We have been very pleased with the customer reception so far at our H&M store at Melbourne's GPO and are looking forward to our expansion within Melbourne. We see Eastland as a great shopping destination to be a part of and we are excited to open our first mall store."