Sweden-based international fashion brand, H&M has signed for the first store opening in Georgia in 2017.
The company has seen rapid expansion over the last few years. In 2017, H&M will also be opening its stores in Colombia, Iceland and Kazakhstan. Recently, the brand completed its first year in India where it posted Rs. 194 crore in sales during year-to-March 2016, with a net profit of Rs. 1.4 crore.
Also Read – H&M opens one more store in India
H&M was founded in Sweden in 1947 and its business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the Group includes the brands & Other Stories, Cheap Monday, COS, Monki and Weekday as well as H&M Home. The fashion retailer has more than 4,200 stores in 64 markets including franchise markets. In 2015, its sales including VAT stood at SEK 210 billion and the number of employees were more than 148,000.
