& Other Stories reduces presence in Spain to two stores
today Jan 11, 2019
H&M is adjusting its business strategy in Spain. The Swedish group, which announced the closure of six H&M stores in secondary retail locations on January 9 to adapt to changes in the market, will also review the store network of its high-end brand. & Other Stories will close its store in Malaga and remain with just two stores in Spain, FashionNetwork.com can reveal.
"Following a comprehensive review, we have decided to close the doors of the & Other Stories shop in Malaga during the first half of 2019," the brand said. The move is being described as an “adaptation” to changes in consumer behaviour to ensure the label’s success in the future. “The Malaga store did not fulfill our expectations,” the company said.
The site opened four years ago in December 2014. Located at number 4 on Calle Marques de Larios, the & Other Stories unit is adjacent to COS, which is also owned by H&M. Together, both brands occupy more than 1,500 square metres of space in one of the most prominent retail destinations in the country. The decision comes after a hectic season in the area, following a refurbishment at Massimo Dutti and the arrival of new brands including Scalpers, Pandora and Kiehl's.
The Malaga store is the third & Other Stories site in Spain. When it closes, the Swedish chain will see its high street presence reduced to two locations in Madrid and Barcelona, located on Calle Hermosilla and Paseo de Gracia, respectively. Despite the decision to leave Malaga, the company said it is willing to remain “attentive” to any changes in the fashion market, “seeing a continuous potential in Spain and other markets to further expand & Other Stories”.
Introduced by H&M in 2013, & Other Stories has three design studios in Paris, Los Angeles and Stockholm, launched at the end of August 2018. With more than 1,900 employees and 70 stores, the fashion chain has a presence in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Poland, South Korea, Spain, Sweden, the Middle East, the UK and the US.
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