Fast fashion brand H&M plans to expand significantly in the Indian market and open six new stores this calendar year. The Swedish brand plans to enter three new cities and pursue omni-channel growth in the country.
“India is a growth market for us,” said H&M India’s country sales manager for India Yanira Ramirez at the business’ headquarters in New Delhi on July 4, Livemint reported. “The group understands the potential India has. We know we have just touched the surface, and will continue growing in India. My mandate is to continue with the omni-channel growth.”
The new cities H&M will enter this year are Patna, Ranchi, and Mangalore. H&M’s formerly swift expansion had slowed down during the pandemic but its store opening announcement suggests that it is returning to its ambitious expansion plans.
“We are one of the markets that is growing very fast,” said Ramirez. “The fact that we are going to be able to launch six stores within six months is huge. We are at 51 stores; we are going to end the year with 57. Likewise, we are in 26 cities and we are going to be in 29. This growth will continue for years to come.”
H&M first launched in the Indian market in 2015 and its main competitors in the country are Zara, Uniqlo, and Gap among other mid-priced fast fashion brands. Globally, H&M runs a number of brands including Cos, & Other Stories, and Monki among others.
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