H&M plans on opening 50 stores in India

H&M (Hennes & Mauritz), the Swedish multinational retail-clothing company, plans to open up 50 stores in India, the company's spokesperson said while talking to VJ Media Bureau. The multinational brand has confirmed that they have applied to invest $100 million to enter the Indian market. The news comes after the government last year relaxed legislation to allow foreign retailers enter the Indian market in order to boost investment from abroad.

 "It's too early to divulge further details on the entering the Indian market”, the H&M spokesperson said, even as they gear up to cater to India's growing middle-class segment.
H&M, is known for its fast-fashion clothing for men, women, teenagers and children and currently exists in 49 countries with over 2800 stores. H&M is the second Swedish retailer after furniture company IKEA Group to seek India's permission to set up shop.