NEW DELHI, Jan 14: Swedish fashion retailer Hennes & Mauritz (H&M) will open at least four stores in India this year as part of its expansion plans.
The company, which opened its first two stores in October last year in Delhi, will open four outlets one each in Mumbai, Bengaluru, Noida and Gurgaon.
“H&M, Hennes & Mauritz AB has announced its first flagship store in Noida. Spread over 37,000 square feet, the new location at the highly anticipated DLF Mall of India is set to open in Spring 2016,” the company said in a statement.
It further said, “DLF Mall of India, spread across 2 million square feet, will see India’s biggest H&M store yet, offering 4 floors…In 2016, H&M will also open stores in Bengaluru, Gurgaon and Mumbai.”
“After successful store launches last year, we continue the trend by expanding to some of the most exciting retail destinations across the country with H&M’s business concept of fashion and quality at the best price in a sustainable way,” Janne Einola, Country Manager India, H&M Hennes & Mauritz Retail, said.
The firm, which had received the Foreign Investment Promotion Board (FIPB) approval in November 2013 for 50 stores, at present operates two stores in Delhi.
In its proposal to the FIPB, the firm had stated that it planned to invest about Rs 720 crore for opening stores across the country.
The H&M group has over 3,600 stores in 58 markets globally. (PTI)
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