The response was so strong that H&M — Europe's No. 2 clothing chain — scrambled to fly in employee help. Some customers were disappointed to have waited hours only to find nothing in their size, company official Nils Vinge said Thursday.
"Sales in Japan have been overwhelming," Nils Vinge (H&M)
"It's too early to say whether H&M has succeeded as a brand," she told AP, while refusing to disclose Japan sales data. The company is planning two other stores in Tokyo. H&M has built a following with fashionable items at reasonable prices, like 299 yen ($3) earrings and 3,990 yen ($40) dresses, by exploiting its massive global supply chain. It doesn't adapt designs to regions. But it grabs attention with limited-edition collaborations with celebrities such as Madonna, Cavalli, Stella McCartney.
H&M released its annual report at the end of January and revealed that its Japanese subsidiary managed to rake in no less than ¥2.1 billion (16 million EUR) in just two months. The sales include the openings of the first two stores but only until the end of the company’s financial year which is November 30. Since the first two stores only opened 13 September and 8 November, this means ¥2 billion in sales from two stores over 102 trading days in total. That’s ¥20 million a day. H&M said in the report that “The reception of the two new H&M stores in Tokyo was fantastic and sales surpassed the company’s high expectations.” (AFP) H&M Japan www.hm.com/jp