nternational fashion retailer H&M will open its New Zealand flagship store at Commercial Bay on Auckland's waterfront.
It is the second store H&M has confirmed for New Zealand. The chain will open its first store at Auckland's Sylvia Park later this year.
Commercial Bay is $681 million downtown Auckland development by NZX-listed property company Precinct.
THOMAS PETER/REUTERS
H&M will open a flagship store in Auckland waterfront's Commercial Bay development.
It will include a new 39 level PWC Tower to be built on the site of the now closed Downtown Shopping Centre, with construction beginning on June 13.
READ MORE:
* Fashion giant H&M may open more New Zealand stores after Sylvia Park
* Which retailers will anchor Auckland's Commercial Bay
* Fashion giant H&M may open more New Zealand stores after Sylvia Park
* Which retailers will anchor Auckland's Commercial Bay
The retail precinct is expected to open by October 2018 with the PWC Tower completed in mid-2019.
Commercial Bay will include about 100 retailers including international and domestic fashion outlets as well as restaurants, cafes and bars.
H&M is the world's second-biggest fashion brand after Inditex, the parent of the Zara fashion chain.
The Swedish-founded fast-fashion chain is one of many internationals coming to New Zealand, including Britain's Topshop and FCUK, jeweller Tiffany's and Australian department store David Jones.
Meanwhile, international bank HSBC will relocate its head office from One Queen Street to 188 Quay Street, currently PWC Tower, in late 2019.
The building will be renamed HSBC Tower.
Precinct chief executive Scott Pritchard said the signing of H&M and HSBC confirmed Commercial Bay's attraction as both a retail and commercial precinct.
"H&M and HSBC are both internationally recognised brands and we're delighted with their early commitment to Commercial Bay," Pritchard said.
H&M choosing Commercial Bay highlighted a resurgence of Queen St as the heart of Auckland retailing, he said.
Post a Comment