The Swedish retailer is in talks with the country's leading mall developers, planning to open its first local store within the next year, Times of India reports. "Sources said H&M has had recent meetings with mall developers...," the paper writes. "These discussions were informal as H&M is keen on firming up a viable business model for a key growth market like India."
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| H&M Forum Shops Caesars Palace, Las Vegas |
The chain's main competitor, Spanish retailer Zara, already has four stores in the country, and plans to add more, according to ToI. Moving into India seems a smart move for any clothing brand: according to a new study by market research company Harris Interactive, more than 90 percent of Indians like shopping for clothes, compared to only around 40 percent in the US or France. MadOne
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