H&M Hennes & Mauritz AB (Stockholm, Sweden) has signed a contract for its first store in Portugal. The large store, which will carry the full product range, will be in central Lisbon and is due to open in spring 2003.
H&M plans to open more stores in Portugal later in the year. The company designs cheap but chic clothing, mainly for men and women from 18 to 45. It also sells children's apparel, as well as its own cosmetics brands. H&M opened its first women's clothing store in 1947 as Hennes (Swedish for “hers”). It later bought the hunting and men's clothing store Mauritz Widforss.
H&M operates about 800 stores in 14 countries. The company is opening up to 100 stores a year, primarily in Europe and the U.S., where it has 40 stores.