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Retail Technology, Retail technology News

H&M to launch e-commerce arm

Monday July 12 2010

The High Street fashion retailer will introduce online sales

The High Street fashion retailer will introduce online sales

 

H&M parent group, Hennes & Mauritz has announced it is to starting selling online in the UK from September this year.

 

The fashion retailer said it would launch its first e-commerce presence as part of expansion plans revealed in its six-month financial report to 31 May 2010.

 

Established expansion programme

 

In addition, it reported a 4% increase in sales and 25% increase in profits. The half-year profit met forecasts, but the company suggested higher costs and a strengthening dollar adversely affect its gross margins.

 

So it will be hoping this next expansion of its online business, which already trades in Finland, Norway, The Netherlands, Denmark, Germany and Austria, will help its growth ambitions in the UK, where its already operates 168 stores.

 

The retailerís recently launched homeware range will also be on sale online, while H&M newsletter subscribers will get advance access to the new e-commerce site to foster greater loyalty among existing customers first.