H&M plans outlets in other major malls
Swedish retail giant H&M, after the successful opening of its initial outlet in the Philippines on Oct. 17, 2014, is now aggressively plotting expansion plans in the country by initiating talks with all local major shopping mall operators.
A source said Megaworld Corp., which owns malls in Binondo, Libis and Fort Bonifacio, as well as Century Properties Group Inc., which runs Century Mall in Makati, and Robinsons Land Inc. have been approached by H&M for possible store expansion.
The SM Group of retail tycoon Henry Sy Sr., however, still enjoys an edge over its competitors as the second H&M store will open in SM Makati either by Nov. 28 or Nov. 30. Two more SM malls—SM Aura and SM Mall of Asia—are also possible future sites of H&M outlets.
The first H&M outlet in Megamall occupies 3,000 square meters in three floors of fast fashion with the hottest trends and timeless pieces. The H&M store is now the biggest retail store in the Philippines.