This year’s growth comes from a lower starting base, since last year’s results were the worst after 2015, as the world and Romania, as well, was in lockdown in March – May 2020. Non-essential offline stores were closed during that time, including H&M’s 56 stores in Romania.
The retailer closed one store and did not open any in the first half. H&M operates in Romania via two offline brands – H&M and Cos and six online brands (H&M, Cos, & Other Stories, Monki, Weekday and Arket). The latter five brands launched online operations in the country as late as last year.
H&M keeps all its operations in Romania under the same legal entity, as far as ZF has found.
(English version by Loredana Fratila-Cristescu)