Budget fashion retailer Hennes & Mauritz said on Tuesday it was preparing to apply to enter India, after government last year fully opened up single-brand retail to foreign firms.
H&M spokeswoman Kristina Stenvinkel said Chief Executive Karl-Johan Persson was in India and would on Tuesday meet Trade Minister Anand Sharma.
Reuters
“We have, as we have said before, looked at India for a while, but there have been certain limitations,” Stenvinkel said.
“We will now present H&M and our plans for India. We are interested in opening stores there. What we are doing now is preparing to apply to start a wholly-owned subsidiary.”
Reuters
Firstpost encourages open discussion and debate, but please adhere to the rules below, before posting. Comments that are found to be in violation of any one or more of the guidelines will be automatically deleted:
Personal attacks/name calling will not be tolerated. This applies to comments directed at the author, other commenters and other politicians/public figures
Please do not post comments that target a specific community, caste, nationality or religion.
While you do not have to use your real name, any commenters using any Firstpost writer's name will be deleted, and the commenter banned from participating in any future discussions.
Comments will be moderated for abusive and offensive language.
