• About
  • Contact
Wednesday, May 18, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

H&M Crosses Rs. 1000 Crore Sales In India, But Growth Slows Down

Sourav by Sourav
February 6, 2019
in New posts
Reading Time: 2 mins read
A A
0
H&M

Fashion retailer Hennes & Mauritz’s crossed Rs 1000 crore worth of yearly sales mark in India, three years after entering the country. However, growth at 29 percent was significantly slower than the previous years when it doubled its business each year.

For the year to end in November, sales rose up to Rs 1109 crore from Rs 860 crore a year ago, the world’s second-largest clothing firm said in a statement issued on Thursday. Within the year 2018, the retailer expanded stores aggressively as it opened 12 doors last year and kept prices lower than their rivals. H&M, which keeps a December-November financial year, entered India in October 2015. It has since opened stores at an average of a store every month, taking the tally to 39 now. Earlier, the company had reportedly said that it would open 50 stores in India with an investment of Rs 700 crore by the year 2020.

Karl-Johan Persson, global CEO at H&M said in a statement that, “Against a backdrop of rapid changes in the fashion industry, in 2018 we accelerated our plans and executed them to future proof our business, closing a challenging year for the fashion industry with strong signals that we are consistent and on track,”

The clothing brand, that runs approximately 5000 stores across the world, reported a 5% increase in the global yearly sales. In India, its sales rose 43 percent to Rs 306 crore during the quarter ended November, Two times as compared to the period a year ago when it grew 20 percent.

The retailer only entered the online market in India last year. In its three years of operations in the country, H&M has surpassed several brands in terms of sales, including Levi Strauss and Benetton, which have been in the country for about 20 years now, and Marks & Spencer, which started a little over 10 years ago. However, Spanish chain Zara, which opened its first store in India in 2010, is still the leading international apparel brand in the country with sales of whopping Rs 1221 crore during 2017-18.

The brand, based out of Stockholm, Sweden, only stocks fast fashion items created in-house and team up with designers for one-time collections. It stores a large inventory of basic, everyday clothing and accessories sourced from places including India and Bangladesh that carry a lower price tag than most of its rivals. This is in complete contrast with the Zara model, which is based on imitating the latest fashion, making affordable versions and stocking them for just a few days.

Source

Previous Post

Trivago’s Abhinav Kumar Joins Paisa Dukan As A Financial Advisor

Next Post

Bharti Airtel Loses 5.7 Crore Customers in December 2018

Sourav

Sourav

Excellent story-teller, with a background in SEO and Digital Marketing. Likes to write and give form to opinion and incidents.

Related Posts

Cars 24
New posts

India’s Cars24 raises $450 million funding; valuation almost multiplies to $1.84 billion

October 7, 2021
Top 5 Luxury & Premium Brands of 2021
New posts

Top 5 Luxury & Premium Brands of 2021

October 7, 2021
Bitcoin vs Ethereum
Cryptocurrency

Bitcoin vs. Ethereum: What Investors Should Know

October 7, 2021
Da Milano CEO Sahil Khanna- Next Big Brand
New posts

Da Milano: Growing in Fashion Market with Affordable Price

December 22, 2020
Guerrillas Advertising- Next Big Brand
New posts

Understanding The Wide Horizon Of Advertising & Branding With Guerrillas

July 24, 2020
swiggy alcohol delivery lays off employees-next-big-brand
New posts

Swiggy Starts Online Alcohol Delivery In West Bengal Amid Pandemic

June 4, 2020
Next Post
airtel hq building

Bharti Airtel Loses 5.7 Crore Customers in December 2018

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple brand story BYJU Ravindran Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding Good Glamm Group google Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Mukesh Ambani Netflix NFT NFT Collection Non Fungible Tokens OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india Startups startups in india Swiggy Tiktok TikTok India Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad YouTube Zomato Zomato App

Instagram

Follow Me!

Recent News

  • PhonePe To Acquire WealthDesk For Around $50 Million & OpenQ For Nearly $25 Million
  • D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures
  • Jack Ma Exits Paytm Mall, Sells 43% For Rs 42 Crore Valuation Down To Rs 100 Crore

Latest News

Sameer Nigam PhonePe CEO

PhonePe To Acquire WealthDesk For Around $50 Million & OpenQ For Nearly $25 Million

May 18, 2022
Smytten Founders

D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures

May 17, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.