H&M to open three new stores in India by June

Hennes & Mauritz (H&M) is planning to expand further into the Indian market with three new stores by the end of June. Two of these stores will open in Mysore and Ahmedabad the first of the brand in these states, while Mumbai will have its seventh.

H&M posted nearly two-fold increase in sales in India to 1,179 million Swedish krona (over Rs 955 crore) for financial year ended November 2017, thus making the country one of its fastest growing markets. As per the company’s full-year report the sale in 2016 was of 606 million Swedish krona (around Rs 490 crore).

The company plans to start online sales in India in 2018 along with other global markets, including Kuwait, the United Arab Emirates and Saudi Arabia. Currently, the company has 29 stores across Delhi NCR, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Amritsar, Indore, Coimbatore, Kolkata, Mohali and Raipur.