H&M India to expand into home decor and furnishings
H&M India is seeking to enter the country’s home decor and furnishings market.
The market entry will see the firm competing with Ikea as well as local retailers under its H&M Home brand.
“We are looking at the home segment and it will be decoration products and not furniture, said H&M India CEO Janne Einola. “There are not many players in that category and the product range doesn’t change for years. In the organised sector, our strength will be the latest assortment.”
Internationally, H&M Home trades predominantly in shop-in-shop formats, with only eight standalone stores out of 370 locations in roughly 50 countries.
H&M India has achieved considerable success after three years in the country, currently holding second place in the apparel market behind Zara.