H&M rapid expansion continues, to add second store in Hyderabad

By

Maverick Martins

Published
Dec 4, 2017

Swedish clothing brand H&M's store count is in no mood to slow down, even after surpassing rival Zara in terms of sales. It will open its second store in the southern city of Hyderabad later this month
 

The two storey store with an area of over 20,000 sq ft which opens at Jubilee Hills on December 20 will house H&M’s product lines including their womenswear, menswear, children’s wear and accessories, the company said in a statement.
 
Even though a late entrant into India’s fashion market H&M has been rapidly expanding its presence across the country gaining a dominant market share in the process and surpassing Spanish rival Zara which currently has 20 stores.

The company has stores in metro, tier 1 and tier 2 cities however; main focus remains to be the metros cities. H&M is making sure it taps the potential in the other cities so it was no surprise that its newest store opened in non-metro city of Raipur, Chhattisgarh last month.
 
The brand has already crossed 700 crore rupees in sales (approx $105 million) which it achieved during a nine month period ending in August 2017.
 
With revenue coming in, the company has planned investments worth €100 million (Rs765 crore) in the country and also plans to go online early next year to further establish its presence in the Indian market which is estimated to grow 29 percent to US$58 billion by 2021 as per a Euromonitor report.
 
“H&M is especially excited to expand its reach in India, a market that poses tremendous potential both in Tier I & Tier II cities and online”, Janne Einola, Country Manager at H&M India had earlier told FashionNetwork.com.
 
H&M will introduce the Garment Collecting initiative at the store, where discount coupons will be given to customers donating old clothes, the company added.
 
H&M currently operates 27 stores across Delhi NCR, Mumbai, Hyderabad, Chennai, Bangalore, Pune, Amritsar, Indore, Coimbatore, Kolkata, Mohali and Raipur.