H&M’s online ecommerce site doesn’t currently ship to New Zealand, so fans of the brand will welcome the news.
CEO Karl-Johan Persson says as H&M expands into new online markets rapidly, they’re upping the ante with bricks and mortar stores, too.
“In parallel with our rapid online expansion we are also opening stores at a fast pace,” Persson says.
“In the fourth quarter we will open approximately 240 new stores net – which is almost three new stores per day.”
“Next year, we plan to open stores in three new markets: New Zealand, Cyprus and Puerto Rico.”
Though there’s no information yet on where the store will open, the Auckland CBD has been ripe for the picking for international companies.
Chanel is also slated to open a store at Britomart, although it hasn’t officially announced its arrival.
Other recent additions to the Auckland CBD include Prada, Dior and Swarovski.
Seed Heritage and FCUK have also opened shops in Auckland in the last year.
Meanwhile, in Wellington, David Jones is replacing Kirkcaldie and Stains in mid-2016.
There are also rumours swirling that companies like Apple and Zara have been eyeing up a spot in Auckland.
A shop in Milford Mall on Auckland’s North Shore, The Store, exclusively stocked the Zara brand, but mysteriously closed its doors after little under a week and has not opened since.
JLL national director of retail sales and leasing Chris Beasleigh told The Register international retailers have been looking to enter the New Zealand market for a while, but the time is right now.
“The New Zealand economy’s going well and we’ve got strong growth from China in regards to tourism, as they're one of the biggest spenders at luxury goods stores,” Beasleigh says.
“I think it’s a combination of a good economy, good growth of immigration and also Chinese tourism.”
He predicted Tiffany & Co. entering the market is just the start, as proven by H&M’s announcement.