H&M’s India sales crosses Rs 1,100 crores mark

Swedish fashion retailer H&M, which entered India in October 2015 has crossed Rs 1,100 crores sales mark in the year ended November 2018. The company has been lucky that in India it has not been carrying any big inventory and didn’t require torun any big mid-season sales here for the year. H&M’s expansion strategy has been successful and the company has been expanding in the right way. In India the brand has been focusing more on print and online advertisements. A TV ad was released over a year ago. A tight control on expenditure, including ad spend, economies of scale, well-managed back-end, lower product prices and penetration in Tier II and Tier III cities have helped the brand grow faster in India compared to most of its peers. H&M stores record a higher footfall and hence are preferred by mall owners as anchor tenants.

H&M has 42 stores in India and will continue to add one store a month. The company has also launched its e-commerce site for Indian shoppers, which is registering double digit sales.