Spread over four-levels of prime retail space, this store – the largest yet for the company in India – is a full-concept flagship, carrying a complete range of fashion and accessories for women, men, teenagers and children. There are also collections that will be exclusively available at DLF MOI.
The flagship will also feature sections for lingerie, H&M Sport, H&M Mama (for expecting mothers) and a plus size collection called H&M+.
Exclusively talking to Indiaretailing at the opening of the outlet, Country Manager H&M, Janne Einola said, “This is truly a landmark moment for H&M, to have the 4,000th store launch in India, the biggest flagship that the country has seen yet, at a fantastic location. We are determined to bring a unique fashion experience with every store opening and are confident that our customers will enjoy shopping at H&M in DLF Mall of India.”
“The collection of the store is at par with global collections, speaking aloud the ethos of the brand – being fashionable and delivering quality products in a sustainable way,” Einola told Indiaretailing.
He also indicated to Indiaretailing that brand which is famous for its winter jackets in India will be foraying in Tier II and Tier III cities in the future. Global e-store of H&M will be launching in seven new markets this year as the brand sees e-commerce as a natural part which goes along with the brick-and-mortar store. The opening of an online store in India is in pipeline.
Speaking to Indiaretailing he added, “This week, H&M will be opening its first outlet in The North Country Mall, Mohali. It is also looking to open two stores in Mumbai at High Street Phoenix and Phoenix Marketcity.”
First Day Sales in India
H&M opened its first store in India on October 2, 2015 at Select CityWalk. The store occupies 25,000 square feet of the mall.
The Swedish retailer clocked more than Rs 1.75 crore in sales on the opening day of its first store in India – almost double what its largest rival Zara sold on its inaugural day five years ago at the same location, Select CityWalk mall.
This translates into an average billing of about Rs 27,000 every minute during the 11 hours the store was open.
And the impact of the opening was such that consumers spilled over into other stores, with sales for all brands located around H&M soaring that day.
H&M Opens First Store in Bengaluru
With success greeting it in India, it is no wonder that the Swedish retailer is on an expansion spree, and fast.
H&M opened its first store at VR Bengaluru on Friday, 25 March 2016, at 11 AM.
Spread over two floors and encompassing a space of more than 30,000 square feet, the new location offers a wide variety of the latest fashion trends and timeless basics at affordable prices.
The store also offers a wide assortment of merchandise catering to women, men, teenagers and children, including athletic wear and lingerie.
Known for fashion and quality at the best price in a sustainable way, H&M is the world’s No. 2 fashion retailer after Spain’s Inditex, which is famed for its Zara brand.
India will be H&M’s 60th market global market entry. It is the first overseas firm to enter India alone after the Government allowed 100 per cent foreign direct investment in single-brand retail.
The company, which committed an investment of $115 million (Rs 720 crore) in early 2014, plans to open 50 retail stores in India.
Currently, the Swedish retail giant operates 3,900 stores across 59 countries, generating $22 billion in revenue.
Retailers and industry experts feel that with its aggressive pricing H&M will give stiff competition to global rivals such as GAP and Zara as well as home-grown players. It has priced T-shirts at Rs 799, denims at Rs 1,999 and outerwear at Rs 2,999 on average.
H&M is looking for stores above 25,000 sq ft and its expansion strategy is to always open at the best business location in a city or shopping centre.
The brand has received an approval of Single Brand Retail Trade in India.