NEW DELHI: Swedish retailer H&M will start selling home decor, tableware, bed linen and furniture in India from next month through its website as well as its online partner Myntra. The retailer will also sell the range at its existing store in Delhi at a later date.
The move comes as demand for home-related products has seen a surge following the pandemic. H&M Home operates more than 350 shop-in-shops and 27 stand-alone stores around the world, with a physical presence in 52 markets.
H&M Home, launched online in 2009, offers furniture, bed linen, tableware, textiles, furnishings and lighting.
“We are going to launch it starting online and it will be in the spring. Thus, it will be H&M.com which will launch initially as well as via the Myntra marketplace but at the same time we plan to launch the shop-in-shop. It will be a little later depending on the situation, but the plan will be that it will be launched between spring and late spring in our store in Vasant Kunj,” said Yanira Ramirez, National Sales Director, H&M India, to Mint in an interview.
Ramirez said the retailer has yet to confirm plans to open standalone H&M Home stores in India. “Right now, we are going to focus on shop-in-shop. We have to see how our customers react,” she said.
Ramirez said the brand will sell the full range it offers globally, including products for the living room, bathroom, bedroom as well as the dining room and kids.
The range will be priced from ₹149 going up to ₹7,999. Meanwhile, 30% of products sold here will be locally sourced.
H&M opened its first store in India in 2015 as part of the foreign direct investment pathway for single-brand retailers. The brand currently operates 50 stores here. In 2018, it launched e-commerce through its own local website and app. In 2019, he partnered with Flipkart-owned online fashion retailer Myntra to sell his fashion apparel online.
Ramirez said the retailer was happy with online sales in India, but declined to share figures. “At the same time, I can tell you that the stores did very well even though we had less foot traffic,” she said.
For the fiscal year ended March 31, 2021, the retailer reported an 11% drop in sales as the pandemic hit demand for fashion and second-hand clothing. He timed ₹1,402 crores in sales during the period.
Ramirez said the retailer was seeing higher conversions despite a drop in footfall.
“Obviously the restrictions are lifted, the day of the lift and we still have to wait for the rest of that across the country, but again we’re very positive for the months ahead,” she said. told Mint in an interview.
Ramirez declined to share future store opening projections.
The uncertainty brought on by the pandemic prompted retailers to tread carefully. Apart from the restrictions, the pandemic has also delayed the influx of new real estate, especially in shopping malls.
The retailer will continue to bolster its omnichannel offerings, Ramirez said.
“There are a series of external factors that we have to take into account to open stores, but part of our strategy is to open physical stores and India is a super important market for us,” she said. declared.
Globally, the H&M group owns brands such as H&M and H&M HOME, COS, Weekday, Monki, apart from & Other Stories. The retailer continues to assess expansion opportunities for these brands in the Indian market.
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