H&M Expanding into home decor in India
In this article (5)
H&M India is seeking to enter the country’s home decor and furnishings market.
The market entry will see the firm competing with Ikea as well as local retailers under its H&M Home brand.
“We are looking at the home segment and it will be decoration products and not furniture, said H&M India CEO Janne Einola. “There are not many players in that category and the product range doesn’t change for years. In the organised sector, our strength will be the latest assortment.”
Internationally, H&M Home trades predominantly in shop-in-shop formats, with only eight standalone stores out of 370 locations in roughly 50 countries.
H&M India has achieved considerable success after three years in the country, currently holding second place in the apparel market behind Zara.
Questions & Answers
Q.What kind of home decor products will H&M India be selling?
What kind of home decor products will H&M India be selling?
H&M India will be selling decoration products, specifically excluding furniture. Their CEO stated that the company is focusing on this segment within the home market in India.
Q.Who are H&M India's main competitors in the home decor market?
Who are H&M India's main competitors in the home decor market?
H&M India will compete with Ikea, which is an international player, as well as various local retailers. They aim to use their strength in offering the latest assortment of products.
Q.How will H&M Home typically be presented in India?
How will H&M Home typically be presented in India?
Internationally, H&M Home predominantly operates as shop-in-shop formats within existing H&M stores. Globally, only eight out of 370 locations are standalone stores, suggesting a similar approach in India.
Q.How has H&M performed in India's apparel market so far?
How has H&M performed in India's apparel market so far?
H&M India has achieved considerable success in the country's apparel market after three years of operation. They currently hold the second position, ranking behind Zara.