H&M's arrival in India postponed to 2015

By

Matthieu Guinebault

Published
Sep 30, 2014

In February, the H&M announced its intention to launch its first Indian store this year. As the company released its results for a nine month period ending at the end of August, however, its CEO announcement the postponement of these plans.

The delay comes after the group had declared in early 2013 its intention to open fifty locations in India, where Zara has had a presence since 2010, and where Gap plans to open stores next year. 

The stakes are high. India is one of the largest consumer markets in the making. Valued at 58 billion dollars per year, the Indian domestic market for textiles and clothing is expected to reach 141 billion dollars by 2021. 

Over the first nine months of its fiscal year (through August) H&M generated 11.8 billion euros in turnover. It’s an 18% increase in Swedish Krona generated through a network that now includes 3,341 stores.