24 November 2025, Mumbai
Swedish fashion giant H&M has pivoted its global strategy, positioning India as one of its most important markets for future growth. Global CEO Daniel Ervér highlighted India, along with Brazil, as a major opportunity, a view strengthened by weakening consumer demand in core markets like Europe and the US. This strategic shift is backed by performance; H&M India reported revenue of ₹3,278 crore in FY24, an 11.4% year-on-year growth, leading key international competitors in the country.
Affordable Luxury: The Cos expansion
H&M's growth plan in India is now being defined by a dual-brand strategy. While the core H&M brand continues to focus on value and trend-responsive apparel, the company is set to launch its premium label, Cos, in India later this year. The first Cos store is slated to open in New Delhi, signaling a direct attempt to tap into India's rapidly growing "affordable luxury" segment, fueled by the rising middle class. "India is one super interesting market to explore for Cos," Ervér noted, recognizing the consumer appetite for aspirational yet accessible fashion.
The omnichannel experience and competition
H&M is investing heavily in enhancing its omnichannel presence, blending digital technology with physical retail upgrades, such as the newly revamped DLF Mall of India store which features enhanced fitting areas and styling screens. This move is crucial as the broader fast fashion segment in India is surging at an impressive 30-40% growth rate.
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