LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

H&M will start online sales in India by 2018

The company had clocked sales of about Rs 703 crore during nine-month period of December 2016 to August 2017.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
H&M will start online sales in India by 2018
A top shot of a fashion retail store. Photo: Pixabay
Written By: PTI
Updated: Sat, Sep 30, 2017
05:19 pm
Mumbai, PTI
RELATED NEWS
Xiaomi opens first retail store in Bengaluru; to open 100 Mi Home stores in 2 years Xiaomi opens first retail store in Bengaluru; to open 100 Mi Home stores in 2 years
Online retail revenues in India to grow to $60 billion in 2017: Report Online retail revenues in India to grow to $60 billion in 2017: Report
Amazon sees growth in phone, fashion segments in festive sale Amazon sees growth in phone, fashion segments in festive sale
Fashion trumps FMCG in Q1 FY18 as shoppers flocked to season end, pre-GST sales Fashion trumps FMCG in Q1 FY18 as shoppers flocked to season end, pre-GST sales
Flipkart fashion arm Myntra says private labels post operating profit Flipkart fashion arm Myntra says private labels post operating profit
Key highlights:
  • H&M will offer online shopping in all store markets as well as in other markets
  • H&M currently has a physical store count stands at 21
  • It clocked sales of about Rs 703 crore during nine-month period of December 2016 to August 2017

With its sales in India witnessing nearly three times jump this year, Swedish fashion retailer Hennes & Mauritz (H&M) is gearing up to enhance it further through online channel by 2018.

The company had clocked sales of about Rs 703 crore during nine-month period of December 2016 to August 2017.

It had registered sales of Rs 291 crore in the year-ago period, as per the company's latest report for the nine months.

"Next year, we plan to continue our online expansion into further countries, including India. The plan is that in the future we will offer online shopping in all store markets as well as in other markets," H&M CEO Karl-Johan Persson said.

In India, H&M had 17 physical stores at the end of August 31. Currently, the store count stands at 21.

In terms of online presence, the company sells its products through the medium in 41 countries and would add Cyprus and the Philippines later this autumn.

The group had a total of 4,135 H&M stores as of August 31, 2017, of which 176 are operated by franchise partners.

The company received FIPB approval in November 2013 for opening 50 stores in India. It had said the investment would be about Rs 720 crore.

In the nine-month period, the group opened 264 own stores worldwide and closed 53, a net increase of 211 new stores.

The company, which has seen growing number of footfalls over two years, is now betting big on the online space as part of its expansion plans.

"We are continuing to improve the online store and are adding more and faster delivery options, while further broadening the range of products online," Persson said.

On the outlook, the company said the group's online sales are estimated to grow by at least 25 per cent per year going forward.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
H&MHennes & MauritzH&M new stores in IndiaH&M online salesFashion retailerKarl-Johan PerssonFIPBConsumer Products
RELATED NEWS
Xiaomi opens first retail store in Bengaluru; to open 100 Mi Home stores in 2 years Xiaomi opens first retail store in Bengaluru; to open 100 Mi Home stores in 2 years
Online retail revenues in India to grow to $60 billion in 2017: Report Online retail revenues in India to grow to $60 billion in 2017: Report
Amazon sees growth in phone, fashion segments in festive sale Amazon sees growth in phone, fashion segments in festive sale
Fashion trumps FMCG in Q1 FY18 as shoppers flocked to season end, pre-GST sales Fashion trumps FMCG in Q1 FY18 as shoppers flocked to season end, pre-GST sales
Flipkart fashion arm Myntra says private labels post operating profit Flipkart fashion arm Myntra says private labels post operating profit

LATEST NEWS

Check best Ram Navami 2021 WhatsApp status, DP, stickers, GIFs, wishes, quotes, messages and greetings

Cadila Healthcare target price pegged at Rs 600 by Sharekhan, says stock in sweet spot

BSE, NSE to remain CLOSED today; next stock markets holiday in May on THIS date

LIC achieves new feat, collects highest ever new premium in corona period in FY21

Haryana Schools Closed Latest News Today: Summer vacation announced early in the state due to rise in the number of COVID cases - check all details here

PUBG update: Alert! PUBG Mobile India may release on THIS date? Here's all you need to know

Karnataka School Exam News Today: Students of class one to nine will be MARKED under THIS SCHEME - check all details here

Serum Inst prices COVID-19 vaccine for pvt hospitals at Rs 600; for state govts at Rs 400

Wipro share price: Expert pegs price target at Rs 545, stop-loss at Rs 440

WhatsApp Privacy Policy: Court verdict likely on WhatsApp, Facebook in India soon- Check all details here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved