Published
Mar 28, 2018
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H&M India revenue up 21 percent to Rs 275 crore for December-February quarter

Published
Mar 28, 2018

Swedish fashion firm Hennes & Mauritz (H&M) revenue from the Indian market rose 21 percent for the quarter ended February to Rs 275 crore (approx $42.3 million).
 


The company is expecting a surge in revenue in the coming quarter on the back of strong online sales as it claims to have got a strong response on its e-commerce portal. H&M had entered the e-commerce fashion market in India with its online store to customers across the country in mid-March.
 
"H&M’s online store in India, which was launched in mid-March, has got off to a very good start. The company’s sales growth, however, has slowed—for the past two quarters rising about 20-27% compared with over 50% increase during the preceding quarters”, it said in a statement.

H&M has been performing exceedingly well in the Indian market and managed to break even during its first year in India. It has been expanding aggressively in the country and opened two stores during the quarter.
 
The company is looking to further expand its base in the country especially in metros and tier 2, 3 cities and expected to open around 15 stores this year. H&M has also stated that it will be hiring around 800 new recruits this year.
 
H&M currently has 29 stores and an e-commerce portal that caters to customers across the country.
 
 

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