Last October, I wrote about the opening of H&M in Manila after business sources reported that they have applied with the Board of Investments. With news this week saying that the first H&M store will be located in SM Megamall, presumptions were rife that the world's second largest apparel retailer has teamed up with the SM Group which already holds the Philippine franchise to big brands like Uniqlo and Forever21. However, this is not the case as H&M is entering the Philippine market on its own and not with a local partner. Here's the reply of the H&M HQ in Sweden ... Continue Reading...
H&M is indeed opening in the Philippines!
..... but we just don't know when :) Sources said H&M (short for Hennes & Mauritz) has applied with the Board of Investments, an agency under the Department of Trade and Industry. But contrary to speculation, the Swedish clothing retailer is not teaming up with SM Retail Inc. to avoid direct competition with other brands the SM group has already franchised - Forever 21 and Uniqlo. More likely, H&M will open in the Philippines as a wholly-owned foreign retailer firm where investment rules state that you can qualify if you have paid-up capital of $7.5 million or ... Continue Reading...
Recent Comments