Dive Summary:
- Clothing retailer Hennes & Mauritz announced that it is applying to open locations in India, starting with "a few stores," according to H&M Chief Executive Karl-Johan Persson, with hopes to "expand heavily from there."
- Recent government liberalization moves in Asia's third-largest economy have incentivized H&M and other retailers to give India a try.
- H&M planned to present its plans to Trade Minister Anand Sharma in New Delhi Tuesday.
From the article:
"... The Indian government has been pushing through controversial economic reforms which relax rules on store opening by foreign retailers, arguing these measures would help revive the economy, and H&M said it was preparing to apply to start wholly-owned subsidiaries in the country. ..."
