The Swedish group H&M is expanding its presence in the Greek market with the launch of the Arket brand.
The first Arket store is set to open in Athens in the near future and as Arket Managing Director, Pernilla Wohlfahrt, commented: “We are excited to announce the upcoming opening of the first Arket store in Greece. Athens, a city that uniquely combines ancient heritage with modern, energetic culture, is the perfect setting for our brand’s new destination. We look forward to meeting our customers in Greece and inviting them to explore everything Arket has to offer.”
Based in Stockholm, the Arket brand, which was launched by the H&M group in 2017, is a modern market and lifestyle destination that offers collections for women, men, children, and home products as well as a cafe with seasonal and vegetarian options. As stated in H&M’s official announcement for the financial results of the 2024 fiscal year, the Αrket brand entered Spain, Poland and Italy in the fall of last year, while in 2025 it will expand its presence beyond Greece and in Norway, Austria, Ireland. At the end of the 2024 fiscal year, it had 40 stores in 17 different markets.
Regarding the performance of the Swedish company in the fast fashion market, it announced operating profits of 17.3 billion Swedish kronor (1.5 billion euros based on yesterday’s exchange rate) and revenues of 234.58 billion Swedish kronor (20.4 billion euros).
Regarding the footprint of the Greek subsidiary, according to the latest published data for the 2022-2023 fiscal year (the fiscal year ended in November 2023), it “translates” into revenues of 184.64 million euros and net profitability of 2.39 million euros. H&M maintains a physical network of 35 stores in Greece (34 H&M and one store of the associated brand COS in Golden Hall) as well as online stores that serve the Greek territory for all the group’s brands.
