H&M set to open its debut store in India

Swedish retailer Hennes and Mauritiz (H&M) is all set to roll-out its first store in India this year. The company has roped in Amit Kothari, former India Marketing and Communications head at Marks & Spencer, as Head of Marketing and Fredrick Dahl, as Head of Expansion as it prepares to take on competition.

As per H&M’s proposal, the company wants to open 50 stores in India. The company would also sell its products through e-commerce when foreign brands would be allowed to launch their e-shopping websites in the country. As reported earlier, the Department of Industrial Policy and Promotion (DIPP) had given a green signal to the company in September last year.

Endorsed by the likes of super-model Gisele Bundchen and footballer David Beckham in international ad campaigns, H&M plans to invest 100 million euros (over Rs 780 crores) in the first phase through its wholly-owned subsidiary. H&M is currently present in 53 markets worldwide. Founded in Sweden in 1947, the company’s brands in addition to H&M, include & Other Stories, Cheap Monday, COS, Monki and Weekday as well as H&M Home.