(November 29, 2013) MANILA – The much anticipated entry of popular fashion brand H&M in the Philippines is set to take place next year, joining a growing list of foreign clothing brands setting up shop in the country.

In a statement on its website, H&M Hennes & Maurits AB said its flagship store will open in SM Megamall next year.

The same statement is posted on the website of Henry Sy-owned SM Prime Holdings Inc.

H&M will be the third major foreign clothing brand that SM is bringing to the country after American fast fashion retailer Forever 21 and Japanese clothing brand Uniqlo.

The H&M Group has a total of six brands – H&M, And Other Stories, Cheap Monday, COS, Monki and Weekday — along with home interiors at H&M Home. It has 3,000 stores in 53 markets with total employees of 104,000 people.