H&M to open two stores in Iceland

It has been announced that Swedish retail-clothing giant H&M will be opening at two locations in Iceland from 2017, in a move which is expected to transform the Icelandic market.

A favourite ‘destination’ for Icelandic tourists abroad, H&M will be opening stores in the Smáralind shopping centre (in the Greater Reykjavik municipality of Kópavogur) and in the new Hafnartorg complex planned for central Reykjavik.

The deal is the result of two years of work by Icelandic real-estate company Reginn, who in a press release describe the arrival of H&M to Iceland as “hugely beneficial”.

CEO of Reginn Helgi S. Gunnarsson is overjoyed with the outcome.

“This will bring about huge change in the Icelandic retail market,” he says. “H&M is one of the world’s strongest companies in this market, offering – as we know – very affordable prices for clothes.”

The two stores are expected to open in 2017 and 2018.