H&M pays big to open its largest ever outpost in New York City

Fast fashion now becomes a supersized fashion too. How? By going 63,000 square feet big! And for 25 whole years! H&M is doing all this and more. It is launching its largest-ever outpost on Broadway. “Our strategy when choosing a location is to open where there is a customer base, and the best business conditions,” said an H&M spokesman. The 34th street corner costs the budget brand a big sum of $1,200 a square foot in rent. But it would more than makeup for it in sales from women’s wear and men’s and sport, maternity, children’s wear, accessories, plus sizes, and cosmetic collections. After H&M’s earlier admission, “one of our priorities is to look for locations where we can open a full concept store,” the four-level flagship will house home furnishings as well leaving no line out, making it the fashion giant’s first all-assortment settlement.

The 2900-strong Swedish chain with a 300-store US attendance already has 2 of those within blocks of their new building. As stated by Daniel Kulle, President of H&M North America, “we are proud to continue our unprecedented expansion in New York City with this groundbreaking Herald Square location.” The decadent development will feature a transparent facade bustling with billboard-style posters of ad campaigns and exterior LED light panels.

Also read -  A new beginning for pet-travel with the world’s first airport terminal for pets set to open at JFK

A new 57,000 square foot unit is also set to open on Fifth Avenue and 48th Street, and another 42,500 square foot store at 4 Times Square will appear by the end of 2013, leaving fashionable fans with the ultimate H&M-wish-fulfillment.

[Via – Crains-Newyork and Nydailynews]

Tags from the story
Written By