Ongoing Expansion

H&M Hennes & Mauritz AB (Stockholm, Sweden) will open its 1000th store, in Boulogne-sur-Mer in northwest France, on August 25.

H&M reaches that milestone in the midst of an ongoing expansion. In 2004, the clothing and cosmetics retailer expects to add a total of 140 new stores, including ones in the new markets of Canada, which began opening in the spring, and Slovenia, which will become its 20th market in the fall. Over the past three years H&M has increased its number of stores by nearly 40 percent.

H&M's first store opened in Vasteras, Sweden, in 1947. Its first store outside Sweden was established in Norway in 1964, followed by a move into Denmark three years later. Expansion beyond the Nordic countries began in 1976, when H&M opened a store in the U.K., followed by stores in Switzerland in 1978 and Germany in 1980. Since then, H&M has opened stores in 13 more countries, including the U.S. and Spain in 2000. Last year H&M stores opened in Poland, the Czech Republic, Portugal and Italy.