H&M in talk to bring its other brands to India
H&M India is currently in talks with the government about the possibility of bringing its parent company Hennes & Mauritz AB’s other brands to India including Cheap Monday and Monki.
H&M, which currently has 29 stores across India and 4,700 stores globally, will continue to expand across the country this year. If talks with the Union Government are successful, other Hennes & Mauritz AB may also enter India soon, bringing with them brands including Monki, Cheap Monday, Arket, H&M Home, & Other Stories, and Cos.
“We are in talks with the government to ease sourcing norms further for single brand retailers like us, who source locally for their global operations,” said H&M India’s Country Manager, Janne Einola. “Once we get that sorted, we may get our other brands to India.”
However, requirements for selling in India regarding the percentage of goods sourced in the country, rules aiming to protect domestic production, remain an obstacle for the Swedish group. “Although they belong to the same group [as H&M], if we bring our other brands to India in the current scenario, we will have to meet local sourcing norms for each one of them,” explained Einola. “Sometimes, that may not be possible due to technical reasons. The government’s response to our proposals has been positive.”
Copyright © 2021 FashionNetwork.com All rights reserved.