H&M, Hennes & Mauritz AB, the Swedish international retailer known globally for its fast-fashion clothing, is all set to open its first flagship and its largest store in India at DLF Mall of India (MOI), Noida on Saturday, 23 April 2016.
Spread over 37,000 sq. ft., the new location will be the 4,000th store opening for H&M across the 61 markets that the retailer operates in. The company’s first store in India was rolled out in October 2015.
Speaking on the development, CEO of H&M, Karl-Johan Persson, said,
“Since 2010 we have doubled the number of stores. This April, we will open store no. 4,000 in the group. The store will open in Mall of India, New Delhi.”
Country Manager, H&M Hennes & Mauritz Retail Pvt. Ltd. India Janne Einola added,
“This April we pass a new milestone as H&M’s global store number 4,000 and India’s largest store opens at DLF Mall of India. We have had a very good reception since the first store opened in October 2015 and we are confident in growing at a fast pace in the Indian market,”
The launch will also help DLF MOI, the iconic retail destination, further cement its position as the only destination mall in India.
Executive Vice President and Head at DLF Mall of India, Pushpa Bector, said,
“H&M has created the largest flagship store at DLF Mall of India. Being an exclusive store, it will showcase the entire H&M merchandise range which will offer a new experience to the customers.”
Spread over four-levels of prime retail space, the store will be a full-concept flagship, carrying a complete range of fashion and accessories for women, men, teenagers and children including certain collection exclusively available at DLF MOI.
There will be in-store sections dedicated to concepts like H&M Sport for active wear, H&M Mama for expecting mothers, plus size collection H&M+ among intimates and denim.
In celebration of this global milestone, Indian fashion enthusiasts will be treated to great surprises on the opening day. The first 10 fashionistas in line will receive H&M gift cards worth Rs. 4000 each while the next 200 fashion lovers in queue will receive a limited edition H&M goodie bag and gift card worth Rs. 500.
First Day Sales in India
H&M opened its first store in India on October 2, 2015 at Select CityWalk. The store occupies 25,000 square feet of the mall.
The Swedish retailer clocked more than Rs 1.75 crore in sales on the opening day of its first store in India – almost double what its largest rival Zara sold on its inaugural day five years ago at the same location, Select CityWalk mall.
This translates into an average billing of about Rs 27,000 every minute during the 11 hours the store was open.
And the impact of the opening was such that consumers spilled over into other stores, with sales for all brands located around H&M soaring that day.
India will be H&M’s 60th market global market entry. It is the first overseas firm to enter India alone after the Government allowed 100 per cent foreign direct investment in single-brand retail.
The company, which committed an investment of $115 million (Rs 720 crore) in early 2014, plans to open 50 retail stores in India.
Currently, the Swedish retail giant operates 3,900 stores across 59 countries, generating $22 billion in revenue.
Retailers and industry experts feel that with its aggressive pricing H&M will give stiff competition to global rivals such as GAP and Zara as well as home-grown players. It has priced T-shirts at Rs 799, denims at Rs 1,999 and outerwear at Rs 2,999 on average.
H&M is looking for stores above 25,000 sq ft and its expansion strategy is to always open at the best business location in a city or shopping centre.
The brand has received an approval of Single Brand Retail Tradein India.
This year, H&M is looking to open two stores in Mumbai at High Street Phoenix and Phoenix Marketcity, in autumn this year. It will also open one store in Mohali.