H&M, the Swedish multinational fast fashion brand, has decided to start its online operations in India by next year. The move is aimed to compete with Spanish rival Zara which will start selling online in the Indian market by the end of 2017.
It is important to note that Swedish fashion brand has outshined its Spanish rival Zara in India and managed to grab the market in just one financial year what Zara took seven years to do.
Also Read – H&M overshadows Zara in India
Zara noted sales of around Rs. 842 crore for the year ended March 2016, while Indian arm of H&M posted sales of Rs. 435 crore in six months from December 2016 to May 2017. After getting the prodigious response from Indian customers since its venture in India in 2015, H&M has also declared to open 50 stores by 2020 with an investment of around Rs. 700 crore.
