'Ikea of fashion' arrives in B.C.

H&M's friendly Viking invasion begins with shop opening in Coquitlam

The Vikings are coming, the Vikings are coming!

Not with longboats, axes and the usual pillaging committee but with high fashion at easy-on-the-pocket prices.

H&M of Sweden, the fashion-clothing retailer with a fast-growing international presence -- it's sometimes referred to as the "Ikea of fashion" -- will hang out its first Lower Mainland shingle in Coquitlam Centre on Thursday.


H&M will open its first Lower Mainland store on Thursday in Coquitlam.

- Bloomberg


But that is just for starters, H&M country manager Lucy van der Wal said in an interview with The Province yesterday.

"We are very close to signing an agreement for space in a downtown mall [Pacific Centre] that will serve as our flagship store," she said.

If all goes according to plan it could be up and operating within a year, she said. And the company is looking for other Lower Mainland sites.
Vancouver is a vital city and H&M's plan is to expand across the Lower Mainland, van der Wal said. The downtown store will be about 30,000 square feet.

"We went to Coquitlam first, simply because the space was immediately available. It is a great location and we look forward to delivering affordable fashion and quality at the best price to our new customers," she said.
Occupying about 18,000 square feet, the one-floor store will offer a full range of collections for women, men, teenagers and children.

It's the third store the company has opened in Western Canada this year. It will provide about 90 jobs.

H&M offers products divided into a number of different concepts, including cosmetics and footwear, for its customers.

It currently has 29 stores in Canada -- 19 in Ontario, two in Alberta and eight in Qubec.

Van der Wal said the plan is to have 35 stores open by the end of the year.

H&M's arrival here will very likely shake up the high-fashion, low-price clothing sector and spark intense competition, analysts said.

"They intend to make a big splash here and, initially, some of the competition in the latest-fashion, low-priced clothing sector will feel their competitive bite," said David Gray, an independent, Vancouver-based retail analyst.

"They are rolling right across Canada," he said. "H&M are a "fashion-value company. They are very strong at taking the latest fashions and putting them into their stores very quickly at a good price.

"Their offerings may not be to everyone's taste but they are very good at what they do," Gray said.

Gray said H&M's arrival will likely not be the last from a global or major European retailer. There is a feeling among major European retailers that Canada has room for more international players, he said.


CELEBRATING 60 YEARS OF GLOBAL GROWTH
H&M Hennes & Mauritz AB was established in Sweden in 1947. It has proven successful wherever it has opened its doors.
It operates globally in 28 countries with more than 1,400 stores.
It has 60,000 employees and last year had sales of approximately $1.2 billion.

It works with international designers such as Karl Lagerfeld, Stella McCartney, Roberto Cavalli and Viktor & Rolf.

It has also collaborated with pop stars Madonna and Kylie Minogue.