Home / Knowledge / News / Apparel/Garments / Swedish apparel retailer H&M gets ready for India entry
Swedish apparel retailer H&M gets ready for India entry
20
Feb '13
Hennes & Mauritz (H&M), the world’s second-largest apparel retailer, has begun process of filing its application with the Government of India seeking permission to open wholly-owned single-brand retail stores in India.
 
H&M CEO Karl Johan Persson, who met India’s Commerce and Industry Minister Anand Sharma in New Delhi, told reporters after the meeting that the budget apparel chain is currently in the application process.
 
He said H&M apprised the Minister of what the company wanted to offer to the Indian consumers. Mr. Sharma told the CEO that the Government can consider offering support to H&M in terms of linkages with some of the leading institutions like the National Institute of Fashion Technology (NIFT) and National Institute of Design (NID).
 
Mr. Persson said India presents an interesting as well as huge market, and the company is seeking to enter it for quite some time as the potential is enormous.
 
He added that his company has studied India’s single-brand retail policy for foreign direct investment (FDI) and it would comply with it.
 
He said H&M would initially begin with few stores and then expand thereafter. However, he hinted that the company may offer something new to Indian consumers in terms of fashion apparels, including their quality and prices.
 
H&M already sources a significant quantity of goods from India and the sourcing would further increase as the company grows in India, the CEO said.
 
H&M would become the second Swedish retailer to apply for foraying in the Indian market, as IKEA’s Rs. 105 billion proposal has already been cleared by the Foreign Investment Promotion Board (FIPB) and is awaiting a final nod from the Cabinet Committee on Economic Affairs (CCEA).
 

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 12th Jun 2021

G20 GDP returns to pre-pandemic level in Q1 2021: OECD

Gross domestic product (GDP) of the Group of 20 (G20) area returned...

Pic: Stock for you / Shutterstock.com

Apparel/Garments | On 12th Jun 2021

Prime Content| Japan's clothing imports fall 13.2% in 2020-21

Japan’s imports of clothing and accessories declined by 13.2 per cent ...

Pic: Shutterstock

Textiles | On 12th Jun 2021

Setting right targets for issues key to building biodiversity strategy

Setting the right targets for issues in play in locations, i.e.,...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Chini Chouhan,

Chini Chouhan

Founded by Chini Chouhan, her eponymous brand specialises in women's...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

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

Leave your Comments


June 2021

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


Advanced Search