Zara, H&M to fight it out in Mumbai now

The brick-and-mortar retail market in Mumbai is all set to see some major action soon. After Delhi, arch global rivals Zara and H&M will be competing in Mumbai.

Swedish fashion retailer H&M will be opening its first store in autumn in the Maximum City and has even booked space in the city’s malls for two more stores. Spanish fashion giant Zara already has four stores in the city and is all set to open three more. H&M will be opening a 30,000 square feet store in High Street Phoenix in Lower Parel and 37,000 square feet store in Phoenix Marketcity, Kurla. The retailer is also in talks with Inorbit Mall in Malad to open a store there and has booked space in L&T’s Realty’s mall in Seawoods.

What is interesting and will add vibrancy to the competitive retail market is the fact that H&M’s store will be adjacent to arch rival Zara’s 25,000 square feet store in Palladium, which is a luxury mall owned by Phoenix Mills in Lower Parel. Further, Zara has a 36,000 square feet store in Phoenix Marketcity in Kurla where H&M will be opening a store.

Zara has been present in India for the last six years and it has 16 stores. It is the fastest brand to achieve 100 million dollars (Rs 665 crores) in revenues. Zara had recently booked a 50,000 square feet space near Hutatma Chowk and will pay a Rs 2.5 crore monthly rent. At the same time, it was in talks with Oberoi Mall in Goregaon to open a 28,000 square feet store. It is learnt that even H&M had spoken to Oberoi Mall but the talks didn’t work out. Whatever the scene, Mumbai has space for both brands, believe experts.