H&M has signed a deal to sell its products on the Myntra and Jabong ecommerce platforms in India. Having opened its first store in India in 2015, H&M now operates 41 stores in the country and had net sales there of around 1.4 billion Swedish kronor in the 2018 financial year. Last year, the retailer launched an online store and its H&M app in the country.
Karl-Johan Persson, chief executive of H&M, said: “India is a growth market with large potential and we look forward to making our brand available to new customers across the country. Myntra and Jabong will be an important complement to H&M’s existing physical and digital stores in India.”
The H&M Group has an online presence in 47 markets and more than 4,900 stores in 72 markets across the world. In addition, to H&M, its brands include Cos, Monki, Weekday, Cheap Monday, & Other Stories, H&M Home, Arket and Afound.