Swedish clothing retailer Hennes & Mauritz (H&M) has opened its new store in Herald Square, New York City, which is said to be the largest in the world.
The 63,000ft2 store sells the complete H&M portfolio which includes a full line of home products that have just been introduced in the US and expanded shoe, children's, lingerie and men's suits departments.
H&M gets over 10% of its entire sales from the US, which remains a smaller market when compared to Germany.
With over 360 stores in the US, the company further plans to expand its retail presence in the country by adding more than 60 new stores this year.
This is part of cits 400 new stores planned across the world.
The company is aimed at making the US and China its two largest growth markets.
H&M North America president Daniel Kulle was quoted by MarketWatch as saying that the company's existing stores in the US continue to see higher sales and traffic, although the company opens new stores.
"With other specialty retailers, you have to leave the stores [to buy the next item on your shopping list].
"With H&M, you find everything you need. There's no reason to leave H&M," Kulle added.
