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