Swedish fashion brand Hennes & Mauritz (H&M) has opened its 57th and 58th stores in India, marking a significant milestone in its aggressive expansion strategy within the South Asian country.
The most recent additions to H&M’s store lineup in India have been unveiled in Pune and Bengaluru. These new outlets are situated in Phoenix Mall of the Millennium, Pune, and Forum South, Bengaluru, according to a social media post by Louis Coucke, the CFO and country controller for India at H&M, posted on Friday.
The recent expansions bring H&M’s store tally in Bengaluru to six. In Pune, this latest rollout marks the fourth outlet and introduces the brand’s inaugural home concept store in the Maharashtra city.
“We are incredibly happy to open our sixth store in Bangalore. This city has exceeded all our expectations since our first launch in 2016,” said Yanira Ramirez, Country Sales Manager, H&M India.
“We have also seen incredible love for H&M HOME since its launch in India in 2022, and now, we are thrilled to bring this experience to Pune,” Ramirez added.
Market watchers perceive H&M’s expansion strategy in India as aggressive, given that the Stockholm-based fashion brand has opened 58 stores since its entry in 2015. In contrast, its competitor Zara from Spain, operating under the Inditex SA umbrella, has rolled out 21 stores in India, despite entering the market five years before H&M.
Established by Erling Persson in 1947, the Swedish fashion brand H&M made its foray into the Indian market in October 2015. As of November 2023, the brand has expanded its presence to 58 stores across 30 cities in the country. Additionally, H&M provides an online shopping platform accessible through its website, app, and through the fashion e-commerce company Myntra.