Swedish fashion retailer H&M increased its sales in Romania by 37% (in local currency) in the fiscal year ended November 30, 2014, as it opened ten new stores in the country.

The group’s revenues in Romania reached EUR 141 million, up from EUR 103 million in the previous reporting period, a company report shows.

H&M expanded its network in Romania by opening ten new stores. The retailer had 38 stores on November 30, 2014.

The group will launch online sales in Romania and other countries this year.

The Swedish group increased sales in all of its markets. Total sales reached EUR 19.5 billion, up from EUR 17.4 billion in the previous year. H&M had more than 3,500 stores worldwide.

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Andrei Chirileasa, andrei@romania-insider.com