Swedish fashion retailer H&M unveils its plans to keep expanding its physical presence in India. This, despite the fact that it announced to shut down its 250 stores across the globe next year!
As shared by a senior company official, the brand is betting on the long-term potential of the country and, hence, the expansion plans!
It must be underlined here that despite realising the relevance of digital presence in current times, H&M sure understands the significance of physical stores at the right places.
“In India, we are relatively small… and there is great potential to grow with physical stores as well as digital in future. So for us, physical stores remain incredibly important, and we want to ensure that we have the right stores at the right locations also in the future,” PTI quoted Janne Einola, Country Manager, H&M India, as saying.
To begin with, the company plans to open two new stores at Lucknow and Bhubaneswar. So far as its online presence in India is concerned, H&M looks quite strong having covered 96 per cent of pincodes in the country through its digital platform as well as its collaboration with e-commerce fashion major Myntra.
H&M entered Indian market with its first outlet here in 2015. It currently operates 48 stores in 24 cities in the country, and has close to 5,000 stores the world over.
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