Swedish fashion retailer H&M, which has been expanding its physical presence by opening up stores in India, is now planning to source garments from the country. It currently sources more of home textiles from India.
The retailer, which forayed into Indian retail market two and a half years back, feels that the country is better placed to be its supplier. Indian suppliers of the retailer have been asked to suggest ways to help H&M improve apparel sourcing from India, H&M Country Manager Janne Einola was quoted as saying by ET soon after inauguration of the brand’s 31st store in India at Ahmedabad.
The company has been sourcing from India for several of its SKUs in the H&M Home brand. Home textiles, linen, lingerie, accessories and woven can be majorly sourced from India as the country has a stronghold in that, said Einola.
Notably, H&M is the world’s second-largest fashion company and one of the biggest buyers of clothes made in Bangladesh.
In addition to sourcing, the Swedish brand is also contemplating to start H&M Home and Cosmetics in India.
H&M has allocated an investment of Rs. 720 crores for the Indian market where it has been receiving tremendous response from consumers.
The retailer is also setting up a warehouse in Mumbai which is likely to be operational by the end of 2018.
H&M is confident to achieve better numbers in India. The retailer reported enormous growth in its very first year of operations here. Markedly, it reported a twofold increase in sales in India to 1,179 million Swedish Krona (over Rs. 955 crores) in the fiscal ended November 2017.
