As part of its strategy to drive sales through offline stores, Swedish fashion retailer, Hennes & Mauritz (H&M) plans to open a store every month.
H&M, the world’s second largest retailer after Zara, which has opened 16 stores since starting 18 months ago, plans to add six to eight over stores by the end of this year.
Janne Einola, Chief Executive Officer, H&M India, said, “Worldwide, sales through offline medium still accounts 50% of total sales despite the convenience of ecommerce and that is why we are bullish on brick and mortar stores to drive our sales here in India where ecommerce still hasn’t covered much ground. We will be going ahead with our strategy of one store a month to drive our expansion.”
The brand inaugurated its 16th store in Hyderabad at K. Raheja-owned Inorbit mall.
It is also considering setting up a new warehouse to meet its future needs and improve efficiency in its supply chain.
Einola said, “We will be looking at having one more warehouse in the future to meet the growing demand and also to ensure our products reach our stores as soon as they are launched globally.”