Home / Knowledge / News / Apparel/Garments / H&M receives nod to set up retail stores in India
H&M receives nod to set up retail stores in India
14
Nov '13
The Foreign Investment Promotion Board (FIPB) of India approved Swedish clothing retailer Hennes & Mauritz (H&M)’s proposal to open 50 stores in India.
 
The proposal to set up 50 single-brand stores at an investment of Rs 7.2 billion or around $113 million was put up by H&M in April 2013. 
 
During a visit to India in February this year, Mr. Karl Johan Persson, CEO of H&M, said the company has studied India's single-brand retail policy for foreign direct investment (FDI) and would be able to comply with it.
 
The Swedish apparel retailer has set up a wholly owned subsidiary H & M Hennes & Mauritz India (P) Ltd, with its head office located in Bangalore. 
 
A Sweden based H&M spokesperson, when contacted by fibre2fashion declined to comment on the development since they had not received any notification from the Indian government. 
 
However, he added that once they receive the go-ahead, they would move fast towards setting up of the first H&M store in India.
 
H&M is the second Swedish retailer after furniture and interior furnishings retailer IKEA to get approval from FIPB to start single-brand retail operations in India.
 
Sweden based Hennes & Mauritz AB group is the world's second biggest clothing retailer by sales behind Spain based Inditex SA, which owns the fast fashion brand – Zara. 
 
Hennes & Mauritz AB group which operates around 3,000 stores globally, also manages other brands like COS, Monki, Weekday, Cheap Monday and & Other Stories. 
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X