H&M plans to launch an India-dedicated e-commerce this year, as well as several new store openings, in a bid to reach customers across all of India, not just major metropolitan hubs.
The Swedish fast-fashion giant is planning to add 8 new stores within the next 6 months, adding five more stores in Tier 1 cities like Mumbai, Delhi and Bengaluru, and three and in Tier 2 cities.
H&M will add two new stores in Mumbai, two at Bengaluru and one in Delhi’s National Capital Region (NCR) of Ghaziabad.
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The brand will also foray into new cities of Coimbatore, Indore and Amritsar this year, the company said in a statement.
“H&M is especially excited to expand its reach in India, a market that poses tremendous potential both in Tier I & Tier II cities”, said Janne Einola, Country Manager at H&M India.
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Meanwhile, H&M’s online vertical is on the verge of deployment. The venture into online market would see it cater to Tier 2 and tier 3 cities where H&M does not have any physical presence as of yet.
The group’s Indian operations turned profitable this year, posting remarkable sales of Rs 435 crore (US$67 million) in six months from December 2016 to May 2017.
H&M entered India in 2015 and currently has 16 stores in the country.