H&M to open first store in India
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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.
Questions & Answers
Q.What is the planned investment from H&M for its expansion into India?
What is the planned investment from H&M for its expansion into India?
H&M announced in 2013 its intention to invest approximately INR7bn, which equates to about $109.3m, to establish its presence in the Indian market. This funding is designated for opening new retail outlets.
Q.Where will H&M's first store in India be located?
Where will H&M's first store in India be located?
The inaugural H&M store in India will be situated in the Select Citywalk mall, located in Delhi, the nation's capital. It will be positioned alongside other established foreign fashion brands within the mall.
Q.How many stores does H&M currently operate worldwide?
How many stores does H&M currently operate worldwide?
H&M presently operates a significant global retail network, with more than 3,600 stores established across 58 different markets. This extensive presence contributes to its worldwide sales figures.
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