Hennes & Mauritz India's sales more than doubled as the Swedish clothing retailer expands its operations.
Sales in nine months to August stood at Rs 703 crore compared to Rs 290 crore in the year-ago period, according to the company's global investor presentation. The fashion retailer, which entered India in 2015, has 17 stores, including the one it opened in the three months ended August. Revenue for the quarter rose 88 percent to Rs 231.7 crore compared to the year-ago period.
The global retailer follows the December-November financial reporting year.
It recently announced to tap the tier-2 markets in India and increase the store count to 25 by year-end. H&M will enter Kolkata, Indore, Coimbatore and Amritsar this month. The company also plans to offer online shopping from next year, according to its presentation.
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