Swedish fashion retailer Hennes & Mauritz (H&M) will roll-out its online marketplace in India

Swedish fashion retailer Hennes & Mauritz (H&M) will roll-out its online marketplace in India by next year, after witnessing huge demand from the country leading to nearly three times jump in sales this year.

The company, which had 17 stores at the end of August 31, clocked sales of about Rs 703 crore during the December 2016 and August 2017, up from Rs 291 crore in the year-ago period, as per the company's nine-month report for the period from December 2016 and August 2017.

H&M CEO Karl Johan Persson said "Next year, we plan to continue our online expansion into further countries, including India. The plan is that in the future we will offer online shopping in all store markets as well as in other markets”.

The group had a total of 4,135 H&M stores as of August 31, 2017, of which 176 are operated by franchise partners.