Swedish multinational clothing retailer H & M Hennes & Mauritz AB, better known for its brand H&M, is foraying into the Indian market with the launch of its first flagship store in New Delhi around September this year, it said in a statement.
The company is planning to open the proposed 25,000 sq ft flagship store at Select Citywalk mall in Saket, New Delhi, and will offer fashion for women, men, teenagers and children, it said.
Janne Einola has been named country manager – India. Einola has been with H&M since July 1997 and in the last role he was the deputy country manager at the group's Finnish arm H&M Hennes & Mauritz Finland and Baltics.
With this, H&M will become the latest multinational clothing brand to be launched in India in recent past after American fashion retailer Gap opened its first flagship store in the country last month with a promise to open 40 more outlets in the future.
H&M, run by Swedish billionaire Karl-Johan Erling Göran Persson, was the first fashion brand to announce an entry into India and setting up a single brand retail shop in the country with full ownership after the government relaxed policies governing the entry of single-brand retailers.
It had announced in December 2013 that it will make an investment of Rs 720 crore and open 50 outlets in the country in a few years.
Globally, the H&M Group has over 3,600 outlets in 58 countries.
http://www.vccircle.com/news/consumer/2015/06/03/swedish-fashion-apparel-retailer-hm-launch-first-store-india-fall
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