H&M: Plans to gradually optimize its retail network and actively select locations to open new stores

Regarding reports that the fast fashion brand "H&M" will close its flagship store on the 4th floor of FASHION WALK, 20 Paterson Street, Causeway Bay, which it leases from Hang Lung Properties (00101.HK), an H&M spokesperson responded that the store will officially cease operations after the lease expires on February 21 next year. The spokesperson revealed that the company will gradually optimize its retail network but emphasized that it has always valued the development of the Hong Kong market, believing that Hong Kong has always played a key role in H&M's development strategy. The company will actively seek suitable locations to open new stores and further enhance product supply and brand experience through optimizing the store portfolio to meet local customer needs.

Looking ahead, H&M stated that it will continue to accelerate its development in Greater China, including Hong Kong and the Greater Bay Area, planning to open new stores in key cities and core business districts, and upgrade high-potential stores, such as the H&M 1234 Space flagship store in Shenzhen, which completed its upgrade this summer