H&M will reach a network of 34 stores in Romania. The retailer currently has ten stores in Bucharest.
In the fiscal year 2013, ended in November, H&M’s sales in Romania increased 41%, to SEK893 million (EUR101 million). According to Finance Ministry data, H&M Romania had a net profit of RON23.6 million (EUR5.4 million) in 2013, up 52% compared to 2012.
H&M was founded in Sweden in 1947 and is listed on NASDAQ OMX Stockholm. The company owns over 3,200 stores on 54 markets.