H&M to go ‘on­line' in In­dia next year

Apparel Online - - Retail Current -

H&M, the Swedish multi­na­tional fast fash­ion brand, has de­cided to start its on­line op­er­a­tions in In­dia by next year. The move is aimed at com­pet­ing with Span­ish ri­val Zara which will start sell­ing on­line in the In­dian mar­ket by the end of 2017.

It is im­por­tant to note that the Swedish fash­ion brand has out­shined its Span­ish ri­val Zara in In­dia and man­aged to grab a huge mar­ket in just one fi­nan­cial year.

Zara noted sales of around

Rs. 842 crore for the year end­ing March 2016, while In­dian arm of H&M posted sales of Rs. 435 crore in six months from De­cem­ber

2016 to May 2017. Af­ter get­ting the prodi­gious re­sponse from In­dian cus­tomers since its ven­ture in In­dia in 2015, H&M has also de­clared to open 50 more stores by 2020 with an in­vest­ment of around Rs. 700 crore.

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