H&M to push up retail growth in India

Swedish fashion retailer H&M is all set to spread its wings across the India and will be opening new stores in 30 months. The company had earlier announced its entry into the East Indian market with a store in Kolkata and will now move into the southern and northern markets with stores in Indore, Coimbatore and Amritsar with an accumulated space of over 75,000 sq ft.

The company also looks to online and offline growth in India as it plans to expand its network with the launch of online portal in the country. The company intends to continue the expansion at a similar pace and focus on fast fashion, at right prices, right locations. However, a lot depends on the real estate, like finding the right location and also, how fast the owners are able to deliver the property.

H&M currently has 17 brick and mortar stores in India and more than 4,400 stores in 66 markets. The company will also launch its ecommerce website in India later this year.