H&M to close flagship store in Hong Kong when lease expires in February

Clothing chain H&M is closing its flagship store in central Hong Kong, reports Dagens Industri. The store was the chain's largest store in Asia when it opened ten years ago, but will close in February when the lease expires, the company's press department confirms to the newspaper.

According to Time Out Hong Kong, the monthly rent for the 4,000 square meter space is approximately SEK 13 million.

In its latest quarterly report, H&M said that at the end of the quarter it had 180 fewer stores than at the same time last year.