First H&M Opens in Jakarta

Swedish budget fashion retailer H&M opened its first store in Indonesia at Gandaria City mall in South Jakarta on Saturday 5 October.

H&M’s new store at Gandaria City offers a range of fashion and accessories for women, men and children. The retailer said more than 1,500 eager shoppers lined up for several hours outside its brand new two-story, 2,400 square meter store, The Jakarta Globe reported.

“We have had an amazing response from our customers here in Jakarta today, and we look forward to continue bringing them fashion and quality at the best price. We are also excited to partner with Hindo, which will bring the customers H&M’s core values,” H&M’s head of franchise operations Par Darj said in a statement.

“It is exciting to have the opportunity to bring the Indonesian customers diverse fashion to dress each of their personalities. We see great potential for H&M to expand in Indonesia,” Hindo country manager Sanveer Gill said. Hindo is H&M’s franchise holder in Indonesia. H&M operates in 53 markets worldwide.

The retailer said it will open a second store at Pondok Indah Mall, also in South Jakarta, on Wednesday.

In July, the president director of Jakarta-based garment maker Sri Rejeki Isman, also known as Sritex, told reporters at the Indonesian Stock Exchange that it has been tapped to make clothes for H&M.

He added that H&M plans to diversify and have a factory in Indonesia.

Previously, housewares retailer IKEA, whose branding is identifiably Swedish but whose corporate parentage actually traces back to a complex corporate tax-optimization scheme straddling the Netherlands, Luxembourg and Lichtenstein, announced plans to open its first store in Indonesia at Alam Sutera in Tangerang, Banten.

Source.

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