New Delhi: Swedish fast-fashion giant Hennes & Mauritz AB (H&M) has aggressive plans to enter India this year with their first store. The brand also entered Manila and the Philippines in October 2014 and have been very well received.
In 2014, the brand opened a net addition of 379 new stores - which is more than one store a day and in 2015, it plans to open even more stores; in total, around a net addition of 400 new stores.
As per Karl-Johan Persson, CEO of the brand, "2014 has been a very good year for H&M. Over the full year, we increased our sales by 14 percent in local currencies and by 18 percent in Swedish kronor, to SEK 176.6 billion including VAT. While we are continuing our long-term investments, at the same time we can see our investments in areas such as online starting to bear fruit. This year we opened our online store in four new large markets: France, Italy, Spain and China. New markets planned for 2015 are Taiwan, Peru, Macau, South Africa and India. The greatest expansion will take place in existing markets where there is still great potential to grow further."
As a further step in broadening H&M's product range, in autumn 2015, the brand plans to start the launch of H&M Beauty - a new and broad concept for make-up, body care and hair care with high quality value-for-money products in a specially produced design that the brand has great belief in.