H&M To Open Online Stores In 8 More Countries Next Year

Following on its 14 percent growth for October, Swedish Retailer Hennes & Mauritz is said to be launching eight new online stores in 2015. The company said Tuesday that it will go online in Belgium, Bulgaria, Poland, Portugal, Romania, Slovakia, Czech Republic and Hungary next year.

Earlier this year H&M had launched online stores in four countries: in March, France, Italy, Spain in August, and China in September. The total number of stores worldwide amounted to 3,437 on 31 October 2014 versus 3,081 on 31 October 2013.

The company has been expanding its online business and investing in new concepts as it faces rising competition from low-cost clothing retailers such as Primark. Last week, the company announced that it will be opening 11 more locations in the U.S. in the next two years; 2015 will also mark its foray into India, Peru, South Africa and Taiwan.