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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 12:06

H&M to open up shop in Jelgava

BC, Riga, 14.08.2017.Print version
Swedish clothing manufacturer and retailer Hennes & Mauritz (H&M) is planning on opening a shop in Jelgava, H&M representative in Latvia Sanita Kalnina told LETA.

However, she did not reveal any additional information on where the shop will be located and when it might be opened.

 

''We do not have more detailed information about the plans to open up a shop in Jelgava. Furthermore, since we are operating in a very competitive market, we also cannot give out any information regarding investment amounts,'' Kalnina explained.

 

However, according to a job listing ad on cv.lv, H&M is already looking for employees for the new shop in Jelgava.

 

As reported, during the first half of its fiscal year, which lasted from December 1, 2016 to May 31, 2017, Swedish clothing manufacturer and retailer H&M generated SEK 178 million (EUR 18 million) in Latvian turnover, which was a 25% increase against the same period a year ago, according to the financial report released by the company on Thursday.

 

Compared to the first half of last fiscal year, H&M stores in Latvia increased their turnover by 22% in the local currency, i.e., euro.

 

The size of the H&M chain in Latvia remained unchanged and still consists of eight stores.






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