H&M India to debut e-commerce, plans 8 new stores
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H&M plans to launch an India-dedicated e-commerce this year, as well as several new store openings, in a bid to reach customers across all of India, not just major metropolitan hubs.
The Swedish fast-fashion giant is planning to add 8 new stores within the next 6 months, adding five more stores in Tier 1 cities like Mumbai, Delhi and Bengaluru, and three and in Tier 2 cities.
H&M will add two new stores in Mumbai, two at Bengaluru and one in Delhi’s National Capital Region (NCR) of Ghaziabad.
The brand will also foray into new cities of Coimbatore, Indore and Amritsar this year, the company said in a statement.
“H&M is especially excited to expand its reach in India, a market that poses tremendous potential both in Tier I & Tier II cities”, said Janne Einola, Country Manager at H&M India.
Meanwhile, H&M’s online vertical is on the verge of deployment. The venture into online market would see it cater to Tier 2 and tier 3 cities where H&M does not have any physical presence as of yet.
The group’s Indian operations turned profitable this year, posting remarkable sales of Rs 435 crore (US$67 million) in six months from December 2016 to May 2017.
Questions & Answers
Q.Why is H&M launching an e-commerce platform in India?
Why is H&M launching an e-commerce platform in India?
H&M is launching e-commerce to reach customers across all of India, particularly in Tier 2 and Tier 3 cities where it currently lacks a physical presence. This move aims to expand its market reach beyond major metropolitan hubs.
Q.How many new stores is H&M planning to open in India, and where?
How many new stores is H&M planning to open in India, and where?
H&M plans to open 8 new stores in India within the next six months. Five of these will be in Tier 1 cities such as Mumbai (two), Bengaluru (two), and Delhi’s NCR (one), with three others in Tier 2 cities.
Q.Which new cities will H&M open stores in this year?
Which new cities will H&M open stores in this year?
H&M will foray into three new cities this year. These new locations where the brand will establish a presence are Coimbatore, Indore, and Amritsar, expanding its footprint across India.
Q.What were H&M India’s financial results for the latest period reported?
What were H&M India’s financial results for the latest period reported?
H&M's Indian operations turned profitable this year. They posted remarkable sales of Rs 435 crore (US$67 million) in the six-month period from December 2016 to May 2017, indicating strong performance in the market.
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