H&M is in talks to sell a majority stake in land in the United States to a group of investors that include U.S. real estate investors, according to people familiar with the matter.
The deal would give the company a stake in the land, known as the U.P.C.P., which would allow the company to acquire land and produce goods from it, the people said.
The deal could be announced as soon as this week.
The companies are trying to turn around a struggling retailer that has struggled to meet its revenue goals and is struggling to sell shoes at record levels, said one of the people, who spoke on condition of anonymity because they weren’t authorized to publicly discuss the matter publicly.
The U.K.-based company, which is based in Singapore, is known for its high-end fashion, including high-street brands such as Burberry, Dior and Louis Vuitton.
The company has been under pressure to slash prices and reduce its reliance on imported goods.