The world’s second biggest clothing chain said online and physical stores are being increasingly integrated along with the rollout of online to most markets. In mid-March this year, H&M launched its online store in India. “The group’s online sales increased by more than 30 percent in the third quarter. Today H&M online is in 47 markets and we are continuing at full speed to roll out online globally to all our existing store markets as well as to other markets,” Karl-Johan Persson, CEO at H&M said in a statement.
The brand opened its first Indian store in October 2015 competing mainly with Spanish chain Zara which entered in 2010 – both setting the benchmark in terms of growth in a market where several brands including Levi Strauss Benetton and Marks & Spencer had tepid performance for many years. Inditex Trent, which runs Zara stores in India, had sales of Rs1,221.67 crore in year ended March 2018.
The Stockholm-based brand stocks fast fashion items created in-house and teams up with designers for one-time collections. It keeps a large inventory of basic, everyday items sourced from places including India and Bangladesh that carry a lower price tag than most of its rivals