H&M in Beijing
CNN reports on H&M’s arrival here. Hopefully for my Swedish brethren (my father is Swedish), the crowds will keep coming. Beijingers remain in dire need of the inexpensive basics H&M provides, so prospects look good. The product mix looked quite complete.
Success will not be a result of location. Around 300 meters down the vacant lots of the main walking street at recently refurbished Qianmen and a good ten minutes from the subway exit, one can only conclude that H&M received an incredible deal on rent. There are no similar fashion boutiques in the area and most pre-H&M foot traffic was domestic tourists. Either H&M realized these people have an even more dire need for their goods or the landlords gave free rent for the year.