Hennes & Mauritz (H&M) on Wednesday open its first India flagship store will open at a well known shopping center in New Delhi on October 2. This will be the 60th market for the group. End of this year, it will open another store in the capital.
H&M is one of the largest foreign investors in single-brand retail that enter India in 2013. The main store of H&M, an rival to another European style brand Zara, will be spread approx 25,000 sq ft in two floors. While the first outlet will open at Select Citywalk Mall in Saket, another is being planned at Ambience Mall in Vasant Kunj before the end of 2015.
The group is planning to open more than 30 stores in India one year from now. With $22 billion in worldwide sales, the firm had at the season proposed to invest Rs 750 crore in India. It had said it planned to open 50 outlets across India through the following couple of years. Zara, in a joint venture with Tata Group’s Trent, has 16 stores the worldwide; it posted $114 million in sales for the year ended March.
“This is the best time to be in India, it is H&M’s 60th and exceedingly expected business sector with such a great amount of potential in retail. We would like to surpass client desires with our fluctuated scope of motivating design that gives them a chance to investigate their own style,” said Janne Einola, nation director, Hennes & Mauritz Retail India.
As indicated by H&M’s most recent quarterly report, the organization arrangements to open upwards of 400 stores over the world this year. Other than India, the bunch’s development push is on the US and China. Indeed, in North America, both H&M and Inditex’s Zara are giving solid rivalry to the US-based Gap, Inc, which as of late declared it would close 175 stores in the US.
Apart from this, there are many Apparel Franchise who offer franchise opportunities in India.