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H&M enters Hungarian market

Swedish clothes manufacturer company Hennes & Mauritz (H&M) aims Hungary, as it turns out of the announcement released by the company. H&M plans to enter the Hungarian market in the autumn of 2005. The maneuver will be coordinated by the Austrian subsidiary. The company plans to open 145-155 stores and 12 outlets worldwide in this fiscal year, which means a 13% growth compared to last year. H&M?s net return in 2004 reached SEK 2,96 billion, growing from last year?s SEK 2,27 billion. Trade was boosted by fashion designer Karl Lagerfeld who made a one-time assignment with the firm.