H&M, one of the largest clothing retailers in Georgia, has published its financial report for 2022. According to the document, the company increased its income by 35% to GEL 48.4 million during the mentioned period.
H&M is a Swedish multinational company with 4,800 stores in 75 countries worldwide.
H&M operates three stores in Georgia, located in the following shopping centres: City Mall, East Point and Galleria.
Company's revenues and profits by years:
2022 - the company received an income of GEL 48.4 million and a net profit of GEL 1.1 million;
2021 - the company received an income of GEL 35.8 million and a net profit of GEL 1.3 million
H&M's global revenue is expected to reach USD 22 billion in 2022, the share of the company's Georgian subsidiary in total revenue is only 0.08%. However, taking into account that the H&M chain includes 4,800 stores, the average sales of one store was USD 4.58 million, while the average income of the company's Georgian stores stood at USD 16.1 million or USD 6 million per year.
