H&M will integrate its digital platforms with physical stores. Karl-Johan Persson, Chief Executive of H&M is bullish on the emerging markets like India.
Swedish label Hennes & Mauritz (H&M) which is opening its first store on October 2 at south Delhi's Select Citywalk Mall is looking at opening 50 stores in India amid competition from global fashion labels such as Zara, Gap, Forever 21 and Massimo Dutti.
In the future, the brand will integrate its digital platforms with physical stores. Karl-Johan Persson, Chief Executive of H&M is bullish on the emerging markets like India. Keeping the long-term prospects of the country in sight, H&M is the first international fashion retailer to enter India alone after the government allowed 100 per cent FDI in single-brand retail.
The company already operates 3,900 stores across 59 countries. The company will gradually study the prospects of roping in ecommerce and m-commerce channels syncing them with physical stores, after gauging Indian consumers’ rising interest in online shopping.
Endorsed by the likes of super-model Gisele Bundchen and footballer David Beckham in international ad campaigns, H&M plans to invest 100 million euros (over Rs 780 crores) in the first phase through its wholly-owned subsidiary.
Founded in Sweden in 1947, the company’s brands in addition to H&M, include & Other Stories, Cheap Monday, COS, Monki and Weekday as well as H&M Home.
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