H&M To Expand Business With 3 New Stores In India By June

Swedish fashion brand Hennes & Mauritz (H&M) is planning expand further into the Indian Market with the set up of three new stores in India by end of June.

As per the expansion outlay of the company two stores will find place in Mysore and Ahmedabad the first of the brand in these states, while Mumbai will have its seventh.

H&M had posted nearly two-fold increase in sales in India to 1,179 million Swedish krona (over Rs 955 crore) for financial year ended November 2017, thus making the country one of its fastest growing markets.

The company had posted sales of 606 million Swedish krona (around Rs 490 crore) in 2016, it said in its full-year report.

H&M said it has plans to start online sales in India in 2018 along with other global markets, including Kuwait, the United Arab Emirates and Saudi Arabia.

Currently, the company has 29 stores across Delhi NCR, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Amritsar, Indore, Coimbatore, Kolkata, Mohali & Raipur.