Sweden H&M Will Open 50 Single Brand Retail Stores In India

< p > Sweden a href= "//www.sjfzxm.com/news/index_c.asp" > Fashion > /a > retailer Hennes Mauritz (H&M) recently confirmed to the media that it expects to invest 100 million US dollars in India, and has applied for 50 single brand retail stores in India.

< /p >

< p > this information disclosed in February (2013) February that H&M was to open its first store in India, and its executive director, Karl-Johan Persson, has come out after talks with the Minister of Commerce, Anand Sharma.

< /p >

In the past 2012 years, the government of India has agreed to relax the rules, allowing foreign direct investment Single-brand Retail's ownership to rise to 100% as part of efforts to stimulate economic growth. However, restrictions on foreign retailers' purchases of more than 30% of goods must come from India's domestic measures but hinder many enterprises from investing.

< /p >

The idea of "P > H&M's entry into India has been brewing for some time. In September last year, the report pointed out that H&M has been seeking to enter the India market through the franchise agreement.

< /p >

When the P H&M executive met with the Minister of Commerce of India, he promised that his application would be fully in line with the India regulations, including the requirement to purchase 30% of local products and not to sell products on the Internet.

H&M said it will be engaged in import and export, marketing, logistics, warehousing and other businesses in India, including selling < a href= "//www.sjfzxm.com/" target= "_blank" > dress < /a > a href= "//www.sjfzxm.com/" target= "//www.sjfzxm.com/", "shoes", "handbags", toys, household products and all kinds of fashion accessories.

In fact, H&M's biggest competitor, Zara, has gained two or even gains in the first year of entering the India market.

At present, Zara has a total of 9 cities in India, with an annual revenue of about 2 billion 600 million rupees (about 50 million US dollars).

< /p >

Less than P > (4) H&M released, due to the cold weather and freezing weather in Europe and North America, the demand for spring goods led to its poor sales performance in March this year.

< /p >

< p > Abheek Singhi, partner of Boston Consultating Group, Boston, said that "a href=" //www.sjfzxm.com/news/index_f.asp "H&M" /a "specializes in the development of high-end clothing products. By purchasing locally, the company can quickly and extensively reproduce popular clothing to various channels.

India has received at least 12 applications, including IKEA, ZARA, Gap Inc, celio* and Uniqlo, from 51% to 100% last year through the single brand retail outsider investment limit, and all of them are interested in investing in India.

< /p >