Sweden-based apparel retailer H&M, after opening its first store in India last year, is planning to further expand its foothold in the region. The company will open 50 more stores in the country to capitalize on the rising demand for global fashion brands. This year, it will also open stores in Bengaluru, Gurgaon and Mumbai.
“After successful store launches last year, we continue the trend by expanding to some of the most exciting retail destinations across the country with H&M’s business concept of fashion and quality at the best price in a sustainable way,” said Janne Einola, Country Manager, H&M Hennes & Mauritz Retail Pvt. Ltd. India.
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Furthermore, sketching its plans on ground, the apparel brand is all set to open its first flagship store and its biggest outlet in the country. The new store (in Noida), which is expected to be open this Spring, would be spread across 4 floors, covering an area of 37,000 sq. ft.
Earlier in December 2013, H&M received green signal from the Foreign Investment Promotion Board to invest more than Rs. 700 crore in the Indian market, thereby becoming one of the biggest overseas investors in ‘single brand’ retailing in the country.
