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The worlds second-largest clothing firm opened two new stores in India, taking its total store count to 29 indicating an aggressive expansion.
The Swedish company, which runs around 4,700 stores globally, owns several other brands, including H&M Home, COS, & Other Stories, Monki, Weekday Cheap Monday and ARKET.
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.
The industry department is finalizing a proposal that will allow foreign companies to count the procurement they do for their global operations from India as part of their local sourcing obligations
Erdem has designed a brand-new collection for women, and for the first time ever, a collection for men for the new Erdem x H&M collaboration.
The company would add 1.60 lakh square feet of retail space by the end of 2017, totalling 6.50 lakh square feet within two years of starting its operation in India. The addition of new stores would take its count to 24
H&M recently announced its intention of starting online operations in India and will also add more stores in existing cities such as Mumbai