H&M to enter India
H&M Fall/Winter 2013-14 lookbook (Photo courtesy of H&M)
Swedish retailer H&M is to open in India. The company said in a statement yesterday, its first store will be a flagship and will open this year. The introduction of H&M to India will be the latest in a series of openings into new markets, following the Philippines and Australia.
“We are very excited to open our first store in India. It is one of the most exciting countries in the world right now, with so much potential,” says Karl-Johan Persson, CEO of H&M.
The retailer plans to invest 7.2 billion rupees (US$113 million) to open 50 stores across India. H&M is currently present in 53 markets worldwide, with over 3100 stores, employing over 116,000 people.
H&M Fall/Winter 2013-14 (Photo courtesy of H&M)