Swedish retailer Hennes & Mauritz (H&M) announced that it will open its first store in India, this year. However, the company has not yet decided the location of its first outlet.
This chain had earlier got approval from the Indian government to invest $ 100 million (nearly Rs 600 crore) for creating its retail network here.
Karl-Johan Persson, CEO, Hennes & Mauritz, said, "We are very excited to open our first store in India. It is one of the most exciting countries in the world right now and with so much potential."