industry

Set to cross 50 stores next year, H&M’s hungry for more


NEW DELHI: Four years after it entered India and almost accomplished its initial target of setting up 50 outlets here, Hennes & Mauritz (H&M) has now set its sights on 100 outlets in the coming years.

Over the years, H&M has been opening one store a month and the world’s number two fashion retailer by sales plans to reach 60 outlets by the end of next year from 42 in 15 cities at present.

“We will cross 50 stores next year and then the natural target would be 100 stores,” said Janne Einola, country manager for H&M India.

H&M’s aggressive push into India is in sharp contrast to rival Zara of Spain that has so far rolled out about half the number of H&M’s network of stores despite the Spanish giant having entered India five years before its rival.

Market watchers and mall executives say Zara is still cautious about its expansion plans in India but the largest fashion retailer is now trying to expand many of its existing stores. They say Zara plans to convert many of its stores located in prominent malls from around 15,000 sq ft to 25,000-30,000 sq ft.

Three malls in various cities said they are already looking to create space for Zara to double its store size in those malls either by relocating other brands or creating space for Zara, a brand that has proved to be a magnet in attracting footfalls and revenue.

Zara, however, declined to comment.





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