Swedish retailer H&M to open its first flagship store in Noida

Swedish retailer Hennes & Mauritz (H&M), which made its entry into the Indian market end 2014, is all set to open its first flagship store in Noida’s DLF Mall of India. The store will be the biggest so far spread out over 37,000 square feet and on four floors. This store is part of its expansion plans to open four more stores this year in Mumbai, Bengaluru and Gurgaon. It has plans to open 50 stores in all in the country so as to tap into the growing demand for fashion labels.

H&M had received approval from Foreign Investment Promotion Board (FIPB) in November 2013 for 50 stores. It had stated that it would invest about Rs 720 crores for opening stores across India. By doing this, it will become the largest foreign investors in single brand retailing. So far, it has two stores in India.

Janne Einola, Country Manager, H&M Retail India said that they were continuing the trend by expanding to some of the most exciting retail destinations across the country with H&M’s business concept of fashion and quality at the best price in a sustainable way’.