In view of rising competition from global rivals like Zara and GAP in India, Swedish fashion retailer Hennes & Mauritz (H&M) is moving towards expansion plan in the country. The retailer is planning to increase its sales by opening brick and mortar stores. It aims to add six to eight over stores by the end of this year. H&M has started 16 stores since it ventured into Indian market 18 months ago.
“Worldwide, sales through offline medium still accounts 50 per cent of total sales despite the convenience of ecommerce and that is why we are bullish on brick and mortar stores to drive our sales here in India where ecommerce still hasn’t covered much ground. We will be going ahead with our strategy of one store a month to drive our expansion,” said Janne Einola, Chief Executive Officer, H&M, who was in Hyderabad to inaugurate the 16th store.
Also Read – H&M notes sales surge of 7% in March 2017
The company is also considering to set up a new warehouse to meet its future needs and improve efficiency in its supply chain. Currently, H&M has one warehouse in Delhi-NCR which caters to its pan-India needs.
