BERLIN: H&M opened a boutique-like store in a trendy neighbourhood in Berlin on Friday that offers yoga classes, a cafe with a garden and space for other brands as the Swedish budget chain seeks a new look to revive flagging sales.
H&M first piloted the idea of a smaller, more upmarket store in its home town of Stockholm last year and is now bringing the concept to its biggest market of Germany, where it runs 462 of its 4,972 stores worldwide.
The move comes as H&M invests heavily and tries new concepts after years of falling profits and growing inventories due to slowing sales at its core budget stores, recently posting its first rise in quarterly pretax profit in more than two years.
The Berlin store is about a fifth of the size of regular H&M stores and features clothes selected to appeal to local tastes, as well as perfumes, “vegan” cosmetics, handbags and second-hand garments from partner brands. — Reuters
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