H&M to open first store in India
Swedish multinational retail-clothing company Hennes & Mauritz is to expand its presence to India, with the launch of the first store in the nation’s capital Delhi.
The move follows H&M’s announcement in 2013 to invest around INR7bn ($109.3m) to open 50 single-brand retail stores in India.
Spread over an area of around 25,000ft2, the proposed store will be located in Select Citywalk mall in Delhi, besides other foreign fashion brands including Zara, Mango, Tommy Hilfiger and GAP.
H&M Hennes & Mauritz Retail India country manager Janne Einola said: “This Fall, fashion will have a brand new address in India: from a world-class shopping destination to sustainable and quality fashion offerings at the best price, we are excited to present the complete H&M experience to our Indian customers.”
Currently H&M operates more than 3,600 stores in 58 markets across the globe.
The retailer generated around $22.33bn in sales last year.