This article is from the Australian Property Journal archive
WESTERN Australian property investor Gerald O’Brien has scored a major coup in Hobart after securing Swedish fashion giant H&M to open its first store in the apple isle.
Hobart is set to welcome H&M within the CBD’s former Harris Scarfe building, owned by Fremantle-based property group Silverleaf Investments, headed by father and son Gerald and Richard O’Brien.
H&M will move into the building once its refurbishment is complete, having opened 10 new Australian stores in the 12 months to November, bringing its total of outlets Down Under to 22.
The Swedish fast fashion label has more than 4,350 stores worldwide.
H&M announced this week it had recorded $301.8 million in Australian sales in the 12-month period to November, 78% higher than the previous year.
Australia is one H&M’s top performing markets globally.
Australian Property Journal
