Business

H&M wins final approval to invest in India

By Textile Excellence
December 05, 2013

Fashion retailers Hennes & Mauritz (H&M) has been given final approval by the government to open stores in India. The Swedish retailer plans to invest 7.2billion rupees and open 50 stores across the country.

In September, H&M reported rising profits, thanks to continued strong growth in Asia. It posted a third quarter net profit of 4.4bn Swedish kronor ($690m; £430m) up 22% on the same quarter in 2012.