Swedish fashion retailer Hennes & Mauritz (H&M) is now planning to get more brands into the Indian fashion market other than its namesake label.
H&M Home, COS, & Other Stories, Monki, Weekday Cheap Monday and ARKET are the other major brands, known for their unique identities, are owned by the fashion retailer. At present, the company runs H&M-only stores (29) in India with a few on cards for Mumbai and Mysore.
After reporting around a twofold increase in its sales from Rs. 490 crores in 2016 to more than Rs. 955 crores for the fiscal to November 2017 has made the brand more optimistic. The global fashion retailer is now focussing to enter small Indian cities as well; however, the majority of its stores are located in metro cities as of now.
The retailer has received a positive response from Government on its reported talks to seek further simplification in the sourcing norms for the single-brand retailer, Janne Einola, Country Manager at H&M India was quoted as saying by a leading business newspaper.
Noticeably, H&M managed to chart out a significant position in the Indian market due to its pricing, marketing and retail store expansion strategies.