Fast fashion chain H&M is set to open its first flagship store in India on Oct. 2 in a New Delhi mall. The country marks the 60th market for the company.
Although H&M first filed a proposal to enter the country in 2013, a pushback was in order after a slowing down of the market, Business Standard reported. But now the retailer is back on track with plans to open another store in India's capital by the end of the year, and 30 more in 2016.
"This is the best time to be in India, it is H&M's 60th and highly anticipated market with so much potential in retail. We hope to exceed customer expectations with our varied range of inspiring fashion that lets them explore their personal style," Janne Einola, country manager, H&M retail India, told Business Standard.
H&M plans to open 50 outlets in India over the next few years and 400 locations worldwide. Other expansion plans include 54 new stores by the end of 2015 in the United States.
India is becoming a popular destination for apparel retailers. Brand names such as the Gap and The Children's Place have announced Indian expansions in 2015 and 2016.
-See this Business Standard article
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