H&M looks beyond metros, to set up 4 stores in new cities
Swedish fashion retailer H&M, Hennes & Mauritz AB is coming up with 4 new stores in Indore, Kolkata, Coimbatore and Amritsar this month as part of its proposed investment of 100 mn Euro for the brand in India. The retailer which has been retailing in India through brick and mortar stores till now said, it will come up with its online channel next year to cater Indian consumers. “At H&M we have proposed to invest 100 million Euro, when we received an approval of single brand retail trade application. H&M will be starting to shop online in India in 2018,” said an H&M India spokesperson. The retailer said it has identified immense potential in these markets and with an accumulated space of over 75,000 sq.ft, these stores will be opened in key locations. H&M Indore store will be opening at Treasure Island Next followed by Prozone Mall in Coimbatore and Woodburn Central. H&M will also open its first store at the Mall of Amritsar. Indore store will have an area of 19,000 sq.ft, Coimbatore will come up with 18,000 sq.ft area, Amritsar store will be of 19,000 sq.ft and its Kolkata store will be of 19,000 sq.ft approximately. These stores will retail women’s, men’s, teenagers and children’s apparels & accessories, footwear and lingerie. H&M currently operates 17 stores across India. These new stores are as per the brand’s expansion plans being announced for Autumn 2017. Currently, H&M looks at having over 25 stores by the end of 2017.