Is Uniqlo finally descending on H&M's home turf?
Uniqlo might finally be encroaching on H&M's Swedish fast-fashion turf, according to local media reports.
Swedish financial publication Veckans Affärer suggested this week that the Fast Retailing-owned Japanese apparel giant could be taking up a unit at the Sverigehuset retail centre in Stockholm. The premises is currently occupied by Danish furniture retailer Illums Bolighus.
"Illums will be leaving Sverigehuset in the autumn, that's true," commented Martin Sandgärde, head of Sverigehuset owner Vasakronan. However, the executive declined to confirm that Uniqlo would move into the unit, citing confidentiality agreements. A spokeswoman for Fast Retailing similarly declined to confirm the information, saying only that no official press announcement had been made.
If the rumours prove to be true, the store in the central Stockholm shopping area would be the first in the Nordic market.
"Uniqlo has been looking at Stockholm for a long, long time and they are absolutely still interested in establishing themselves here," a property consulted told VA.
As of the end of May 2017, Uniqlo expanded their reach to 55 stores in five countries: the UK, France, Russia, Germany and Belgium. It will also target Zara's home market with a planned opening in Barcelona in autumn this year.
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