H&M eager for India foray

Tuesday, 05 July 2011

Swedish fashion retail giant H&M is looking to set up stores in India. According to sources H&M has had informal discussions with mall developers like Phoenix and DLF besides holding talks with ITC Group and Mukesh Ambani's Reliance. H&M is keen on firming up a viable business model for a key growth market like India. H&M offers fashion and quality at affordable prices for women, men and children. The collections are comprehensive, and new merchandise arrives in the store every day. This way, customers can always find something new and create their own personal style.

Hennes & Mauritz is a $15 billion corporation. It’s Europe’s second largest clothing retailer. H&M’s main rival Zara, the Spanish fashion behemoth, made an aggressive entry into India last year, grabbing the attention of its peers worldwide. Zara has four stores operating and has plans to add more in the near future. H&M is known for selling quality merchandise at an affordable price and should keep the Indian audience in mind before deciding its pricing strategy. At present, FDI is barred in multibrand and general merchandise retail while it is restricted to 51 per cent in single-brand retail.

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