H&M, the Swedish fast fashion retailer, is doing brisk business in India. For the year ending November 30, 2016, H&M India clocked a turnover of Rs 446 crores across 12 stores. H&M will now focus on expanding its brick and mortar presence in India and has no plans of expanding online right now.
Mumbai has three H&M stores. The brand launched its store in Chennai last year and will be opening its first store in Hyderabad this summer. The retailer also has stores in Delhi, Punjab and Pune. The retailer has 15 stores in India. The biggest surprise for the brand was Chennai. It has been very successful there with its western clothes especially with the women’s category.
The collections in India are at par with the global styles. The collection in the Delhi store was showcased at the Paris Fashion Week a day before. The retailer gives fashion and quality at the right price and has clothing for men, women and children. Globally, H&M had 3,970 stores as of February and plans to open 425 more by November. The company is the world’s second-biggest clothing retailer by sales after Zara’s parent Inditex of Spain. In 2017 H&M intends to open stores in four to five new markets, including Colombia, Iceland and Kazakhstan.
Source: Fashion United
H&M does Rs 446 crores in India
