Retail in Asia

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H&M on quest for growth with new fashion chains

Hennes & Mauritz, which pioneered global expansion in fashion retailing, now finds itself tailing Zara owner Inditex not just in size but in strategy as it trials separate fashion chains to attract new customers.

Shares in both companies have outperformed the European retail index, which is down 8 percent this year as the continent’s debt worries hit consumer spending, but while world number one clothes retailer Inditex is up 13 percent, H&M, now second biggest, is around 4 percent down.

The Swedish firm is hoping new chains – Spain’s Inditex already has eight concepts to entice different customers – will help it out.

(Source: CNBC)