H&M may open third store at VR Bengaluru mall

Swedish fashion retailer Hennes and Mauritz (H&M) is making headlines in India. Sources claim that the company may open a 30,000 square foot outlet at upcoming VR Bengaluru mall in Whitefield. The brand could be the anchor tenant in the mall being developed by Virtuoso Retail set to open doors to the public in the last quarter of 2015.

This will be H&M's third outlet in India after its first two store launched in Delhi on October 2, 2015 at Select Citywalk mall in Saket and the second at Ambience Mall in Vasant Kunj. At an initial stage, the company plans to open 50 stores in the country amid competition from global fashion labels such as Zara, Gap, Forever 21 and Massimo Dutti. In future, the brand will integrate its digital platforms with physical stores.

A recent CBRE South Asia study, India has more than 300 shopping malls, but only around 24 have been identified as successful, including DLF Emporio, High Street Phoenix, DLF Promenade, Select Citywalk, to name a few. Select Citywalk, for example, is currently 98 percent occupied. Its tenants include Mango, Zara, Aldo, Sephora and Tommy Hilfiger and now H&M.