Hennes & Mauritz will open its first store in India this year, it said on Wednesday, as the world’s second-biggest fashion retailer becomes the latest to take advantage of the opening of Asia’s third-largest economy to foreign operators.
H&M, which said last year it plans to spend around 100 million euros ($137 million) on an initial 50 stores in India, received final approval in December from the Indian government to invest in the country.
“We are very excited to open our first store in India. It is one of the most exciting countries in the world right now, with so much potential,” H&M CEO Karl-Johan Persson said in a statement.
via H&M to open first store in India in 2014 | Reuters.
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