The store, which is due to open at the end of 2016, announced its switch to Kiwi shores last month, prompting great excitement from lover of the chain.
Kiwi Property, which owns the Sylvia Park shopping complex, is making an investment of $7.7 million to upgrade the adjacent areas around the shopping centre to accommodate H&M. Ten years ago, Sylvia Park was a brown-field site off the Auckland Southern Motorway. Kiwi Property says the shopping complex now attracts more than 12 million visitors each year.
The H&M chain of fashion stores currently operates in 57 countries with over 3,500 stores and more than 132,000 employees. The retailer has cut out the middleman. Its large purchase volumes, efficient logistics and cost-consciousness resulted in it becoming a leader in the market for men’s, women’s and children’s clothing.
The confirmation that H&M will be opening in Auckland follows the news of the arrival of the popular British brands Topshop and Topman in earlier this year.
Kiwi Income has six shopping centers and two large format retail centres in New Zealand. Chief executive Chris Gudgeon said to have the fashion giant move to Sylvia Park is great news for shoppers. “Hopefully this won’t be the only H&M location for us.”
Chief Executive Chris Gudgeon said Sylvia Park has been trying to find tenants similar to H&M in size for some time, and H&M was not the only retailer with its eyes on the shopping complex.