H&M to open 3 new stores in India by June

Come end of June, H&M, the Swedish fashion retail major will inaugurate three new stores in India, stated a media report.

The three stores to be inaugurated include two maiden ventures, one each in Mysore and Ahmedabad. The third store will be in Mumbai, which will turn out to be its seventh H&M store. This is as per the expansion outlay of the company.

The company, in the previous year, registered the doubling of its sales in India, with the figures standing at 1,179 million Swedish Krona. It amounts to INR 955 crore. The financial year for this feat ended in November 20117. This implies that India is one of the fastest growing markets for H&M retail products.

In the year 2016, H&M had registered a sales figure of 606 million Swedish Krona. It amounts to approximately INR 490 crore, its full-year report stated.

According to media reports that appeared recently, H&M plans to commence online sales in the current year in India along with other global markets. These include Kuwait, Saudi Arabia and United Arab Emirates (UAE). As of now, in India, the company aggregates 29 stores across Delhi NCR, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Amritsar, Indore, Coimbatore, Kolkata, Mohali and Raipur.