H&M sees 45% increase in India sales in 2019
today Jan 31, 2020
Fast-fashion retailer H&M saw its sales in India increase by 45% during its most recent December to November 2019 financial year, to reach Rs 1,491 crore ($224.1 million), opening eight stores in India during the year.
Thanks to continued brick-and-mortar expansion, online tie-ups, and competitive pricing, H&M has seen a significant sales increase over its 2019 financial year.
“Our stores continue to do strong sales, our online site and Myntra tie-up has shown good growth too,” H&M India CEO Janne Einola, said in a statement, ET Bureau reported.
H&M plans to continue to expand in India this year with a heightened focus on Indian consumers and their needs.
“We look forward to Indian design collaboration with Sabyasachi launching soon and becoming increasingly relevant to the Indian audience.”
H&M’s collaborative collection with designer Sabyasachi Mukherjee will launch this April, both in-store and online, in India, as well as in select global stores and will feature a range of printed womenswear among other products.
H&M entered the Indian market in October 2015 and currently has around 47 stores in the country, aiming to reach 50 this year. The brand has opened around one store a month on average in India, thus far.
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