The speculation could now stop as the date has been set.

If all goes according to plan, Swedish multinational retail-clothing company Hennes & Mauritz AB—more commonly known as H&M—will finally open its doors to Filipinos on Aug. 15, according to Trade Undersecretary Ponciano C. Manalo Jr.

Fresh from meeting executives in Sweden, Manalo said H&M was highly bullish of its prospects in the country as the company sees the Philippines as a big market given its huge population and robust economic growth. H&M, whose first store in the country will be located at the SM Megamall’s Fashion Hall, reportedly has big plans for the country over the next five to 10 years.

The fact that H&M is coming into the country on its own, without a local partner or a franchisee—and that it is the first fully owned international retail chain in the country—also says a lot about its strong and continuing confidence in the Philippine market.

H&M executives, according to Manalo, said: “We are going to the Philippines full blast.”