H&M targets having 40 stores in India by end of this year

H&M is looking to have a total of 40 stores in India by the end of the year. As of now there are 36 stores and it has just opened its first outlet in a metro station in the country, at Gurgaon. The Swedish fashion giant, the world’s number two fashion retailer, entered India in October 2015.

The brand is known for its fashion offering and great prices. Growth has been helped by the addition of new stores as well as merchandise priced lower than that of most rivals. The retailer stocks fast fashion items created in-house and teams up with designers for one-time collections.

H&M is increasingly integrating online and physical stores in most markets including in India where it launched an online store in March this year. As the world’s second most-populated country, India is an attractive destination for US and European brands and has attracted some of the world’s largest private labels that are banking on young consumers embracing western-style clothing. H&M’s sales in India grew 40 per cent in the year up to March 2018.