Mass retailer H&M is speculated to open an initial 50 stores in India, a campaign that is projected to cost over $130 million. Hennes & Mauritz, the duo behind H&M, has been struggling to main a global presence in competition with Inditex, the company who owns Zara. They have about 2,800 stores in 49 different countries. Inditex, by comparison, has 6,000 stores in 86 countries. The race is on. This is huge news for both the company and the Indian market, which is one of the fastest emerging economies in the world. While most of Europe has been in economic turmoil, India has been steadily climbing the ranks, a perfect platform to attract international fashion brands. Aside from economic incentive, India provides a fashion-conscious climate with a booming middle class. For H&M, which is eager to set up shop in China, Australia, and Brazil, this is the beginning of expanding the brand as well as making up for the European slump they have recently experienced. We’re excited to see how this potential union plays out! What do you think?
Rida Islam, Fashion Editor