H&M to be sold on Indian e-commerce platforms Myntra and Jabong
H&M India has signed a deal to sell H&M on e-commerce platforms Myntra and Jabong
“We are extremely delighted to partner with H&M, one of the world’s leading fashion brands, and host them on Myntra and Jabong. As India’s leading fashion destination for international brands, this partnership will allow millions of online shoppers across the country to access and experience the best of H&M and have it delivered at their doorsteps”, says Amar Nagaram, Head – Myntra and Jabong.
H&M opened its first store in India in 2015 and today has 41 stores in the country with net sales amounting to about 1.4 billion Swedish kronor for the financial year 2018. H&M’s online store and the H&M app became available for customers in India during 2018.
“India is a growth market with large potential and we look forward to making our brand available to new customers across the country. Myntra and Jabong will be an important complement to H&M’s existing physical and digital stores in India,” says Karl-Johan Persson, CEO H&M group.
The H&M group has 47 online markets and more than 4,900 stores in 72 markets including franchise markets. In 2018, net sales were SEK 210 billion.
Myntra and Jabong are India’s leading platforms for fashion brands and pioneer in m-commerce play. An integral part of the Flipkart Group, Myntra and Jabong bring together technology and fashion to create the best experience in the fashion and lifestyle space in India. The company has partnered with over 2000 leading fashion and lifestyle brands in the country such as Nike, adidas, Puma, Levis, Wrangler, Arrow, Jealous 21, Diesel, CAT, Harley Davidson, Ferrari, Timberland, US Polo, FabIndia, Biba and many more to offer a wide range in latest branded fashion and lifestyle wear. Myntra services over 19,000 pin codes across the country. With the largest in-season product catalogue, 100% authentic products, Cash on Delivery and 30-day Exchange/Return policy, Myntra and Jabong are today the preferred shopping destination in the country.
Source: H&M Headquarters- Stockholm, SwedeneCommerce Europe India News