H&M to open its second store on November 7 in New Delhi

Swedish fast-fashion brand Hennes and Mauritz (H&M), which saw customers thronging its first shop at Delhi’s Selct CityWalk Mall, when it opened its doors is ready to open its second outlet at Ambience mall in the capital. The store will be larger than its first one and launched on November 7, 2015 to cash in on the upbeat consumer sentiment around the festive season.

The new store is spread over 28,000 square feet, across three floors. The company would open its third store in Bangalore early next year. On the opening day of its first store, H&M witnessed over Rs 1.75 crore in sales. Industry insiders point out that this figure is almost double than its largest rival Zara reported on its inaugural day five years ago at the same mall.

After a wait of three years, the company under 100 percent FDI rule also aims to increase sourcing from India to 30 percent in five years to abide by the rules. The company’s future store expansion will largely depend upon the availability of quality retail spaces and its stores would bring all its global offerings to India. H&M may also follow an omni-channel model in the country next year.

The brand competes with other international labels like Zara, Gap, Forever 21, Mango, Tommy Hilfiger and Marks and Spencer that are already present in India. Now Japan’s Uniqlo has also announced its plans to enter the country.