In a recent interview with WWD, H&M CEO Karl-Johan Persson confirmed that the company is set to open its very first Home Store, signaling a new phase in its retail strategy. This move is expected to expand the brand’s product offerings beyond fashion and into home décor and lifestyle items.

Looking ahead, H&M plans to open new stores in South Korea and Israel in 2024. The company also announced its intention to establish a flagship store on the iconic Champs-Elysees in Paris, further solidifying its presence in key European markets. Additionally, H&M is working to enhance its English sales network, aiming for broader international reach.

Despite a recent decline in overall sales, which fell short of both internal targets and market expectations, H&M has maintained profitability in recent months. According to Persson, the drop was partly due to warmer weather impacting demand for winter apparel and outerwear.

In October, sales at existing H&M stores dropped by 3%. The company attributed this decline to weaker performance in the U.S., Spain, and France. However, sales in Central Europe and Asia remained strong, showing resilience in these regions.

Persson emphasized that H&M aims to grow its store count by 10% to 15% annually while also boosting same-store sales. Most of the growth is driven by expansion in core markets like Europe and North America, as well as emerging markets such as Japan, Russia, and China.

So far this year, H&M has opened 240 new stores, surpassing the original target of 225. Reflecting on the company's progress, Persson said: “We are very pleased with our development and will continue to expand aggressively next year.”