Chile: Where H&M has its highest revenue per store in the world
Chile is the country with the highest revenues per store in the world for H&M. In 2016 the Swedish company sold $124 million in its four establishments in Chile, located in Costanera Center, Mail Florida Center, Mall Casa Costanera and Alto Las Condes. For each store, the average sales were $31 million.
According to the Chilean paper Diario Financiero, in second place was Australia, which has 22 H&M stores with average sales of $9.98 million; China follows with just two stores, but which in the last year made sales of $9.12 million each. In consolidated terms, the countries that generated the highest revenues for H&M were Germany, the United States and the United Kingdom. As far as expansion plans go, the second largest fashion chain in the world anticipates opening two new stores in Chile, specifically in Coquimbo (with an area between 2,500 and 2,800 square meters) and another one in Downtown Santiago. H&M launched in the Chilean market in 2013 with its first store in Santiago (Costanera Center). In 2016, the brand announced its plan to expand to the interior regions of Chile, at the same time as it continues to generate anticipation of its much-awaited arrival to Colombia, where it predicts it will end the year with three stores. On the other hand, in the rest of the region H&M plans five new openings in Mexico for the first half of 2017, with the goal of inaugurating 10 stores a year in the Mexican market. The company, which recently announced that by the year 2030, 100 percent of its products will be made with recycled or sustainable materials, obtained a net attributable profit of 2.457 million Swedish crowns in the first trimester of its fiscal exercise, which occurred between December 2016 and February 2017, which represents a growth of 3.4 percent compared to the same period of the previous exercise. The Swedish fashion chain hopes to close the period with a net increase of 430 new stores, of which the majority will be H&M stores and between 70 and 80 will open under the brands Cos, & Other Stories, Monki, Weekday and Arket.