Swedish fashion retailer Hennes and Mauritz (H&M) comes to India with its first flagship store in Delhi. Devi Singh speaks to the country manager
After months of anticipation amongst fashion-lovers, the first H&M store arrived in Delhi. Known for offering fashion and quality at the best price in a sustainable way the store was launched in an unprecedented milestone.
“We have been waiting for this day for a long time now and the fabulous response is truly worth the wait. I’m hopeful that Indian customers will enjoy our diverse offering and find fashion inspiration in the store. India is a great market with huge potential. We want to be present in all markets where customers are waiting for us,” said Janne Einola, country manager, H&M Hennes & Mauritz Retail Pvt. ltd. India.
As per its proposal to the Foreign Investment Promotion Board (FIPB), H&M had stated that it planned to invest about Rs700 crore for opening stores across the country.
Presenting a wide selection of latest trends and timeless classics for customers, H&M, the world’s second-biggest clothing retailer will offer women’s, men’s, and children apparel and accessories. The end of 2015 will see another H&M store opening at Ambience Mall, Vasant Kunj. In 2016, H&M will open its first Bangalore store at VR mall.
Headed by Swedish billionaire Karl-Johan Erling Göran Persson, H&M Hennes & Mauritz AB (H&M) was established in Sweden in 1947 synonymous with affordable as well as up-to-date and high quality fashion. The company’s clothing collections are created by its own designers, pattern makers and buyers. H&M has more than 1,32,000 employees, more than 3,600 stores in 60 markets, including franchise markets and registered $22.33 billion in sales in 2014.
“We are very proud and happy to open our first store in India. The response from Delhi has been tremendous. Our expansion plans are in full force and you will be hearing a lot more updates,” said Dhatri Bhatt, Head, Public Relations, H&M India.
The lack of Indian prêt wear by Indian designers in India could be contributing to the success of these international labels. The global fashion giants are focussing on India as they want to tap in the huge consumption in the country for ready to wear clothes with western cuts. The Delhi store is majorly dedicated to women, like many designer brands with separate sections for shoes, bags, accessories and lingerie. Prices ranged from Rs149 for hair bands to Rs699 for leggings to Rs799 for shoes and Rs18,999 for the costliest dress. After a successful innings in China, the Swedish retail giant decided to target India in an attempt to capture their share of the country’s $41 billion apparel market which is estimated to reach $141 billion by 2021. Delhi’s Select Citywalk Mall rolled out its red carpet to H&M after housing stores like Zara, GAP, Forever 21, et al.
Speaking about the rival brands in the country, Bhatt said, “At H&M we believe that we are our own biggest competition. We are constantly trying to prove better than our previous performance and at the same time surprise the customer with something new and interesting each time.”
photos Sanjeev Kumar