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Swedish Giant H&M Plans Rapid Roll-Out Of Stores In Belarus

Swedish fast-fashion giant H&M is planning to take Belarus by storm, as the company intends to open a number of shops in big cities.

The news was made public by Belarus Ambassador to Sweden Dmitry Mironchik on Twitter.

“H&M will open its first shop in Minsk on 28 September. New shops in the capital and regions are coming soon. Competition in the market will increase.

 

Today we talked about the investment plans of the Swedish brand and offered to consider production and procurement in Belarus. There is a chance, it is a priority for us,” said Mironchik.

Recall that the opening of the first H&M shop in Minsk is scheduled for 28 September at the Galleria Minsk shopping center. It will spread over two floors and occupy ​​2.2 thousand square meters.

Photo: Unsplash

So far, the multinational company recruited more than 100 people to work in the local shop. The exact date, as well as the regional centers where new H&M shops may appear remain unclear.

In a comment to FINANCE.TUT.BY, the Belarusian ambassador explained that the Swedes were offered to start clothing manufacture in Belarus and purchasing of materials for sewing.

“This is difficult, but we are doing our best to convince the Swedes to get involved. IKEA managed to look at Belarus from this angle, we hope that H&M will do as well,” said Mironchik.

Recall that another Swedish giant IKEA will have its manufacturing factory built in Grodno. The investment project, which is a part of the GO BELARUS strategy, is export-oriented.

At least 170  new jobs will be created in the region as the new furniture cluster starts humming. Also, the industrial premises will make up to 20,000 m², have own woodworking base and pellet workshop.

Belarus annually produces goods for the Swedish retailer IKEA for 80 million euros. Furniture, textiles, and accessories made in Belarus are sold in IKEA stores around the world.


Source: TUT.BY

 

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