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H&M India bets on omnichannel model to expand footprint
Mint Mumbai
|July 05, 2023
H & M, the Swedish fast-fashion retailer, is set to expand its presence in India by opening six more stores and enter three cities by the end of 2023, besides focusing on boosting its online sales, said a top company executive.
“India is a growth market for us. The group understands the potential India has. We know we have just touched the surface, and will continue growing in India. My mandate is to continue with the omni-channel growth," Yanira Ramirez, country sales manager, H&M India, said in an interview at the company’s headquarters in New Delhi on Tuesday.
Ramirez took over as country sales manager in 2021. For FY22, H&M India, which operates 51 stores, posted revenue of ₹2,115.18 crore, up 49% from a year ago, while its profit rose to ₹25.29 crore, according to data by business intelligence platform Tofler.
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