Swedish fast-fashion giant H&M is looking to expand its presence in Ho Chi Minh City, one of Vietnam’s most affluent and dynamic retail markets, as part of its broader Southeast Asia growth strategy.
Local sources say H&M Vietnam is actively exploring opportunities to open new stores in the city’s prime commercial areas. The brand currently operates 14 stores nationwide and is aiming to grow that number to 20 in the coming years, with a strong focus on central Ho Chi Minh City.
The retailer is reportedly navigating local leasing procedures and regulatory requirements to facilitate its expansion.
H&M entered the Vietnamese market in 2017, but its store footprint remains relatively modest compared to other markets in the region, including Malaysia, Thailand and the Philippines.
Globally, the brand continues to rebound, with operating profit rising 40 per cent to US$523M in the third quarter of this year. Operating margin also improved, climbing from 5.9 to 8.6 per cent.
