During the second quarter spanning from March 01- May 31, 2021, H&M India’s net sales grew by 200 per cent to Rs 307 crore.

The Swedish fashion retailer a 30 per cent jump in net sales in India for the six-month period ended 31 May, 2021. As per Textile Excellence, the retailer’s net sales in India rose to Rs 836.6 crore during the period

H&M operates 50 stores in the country—apart from its own e-commerce channel as well sales on e-commerce marketplace Myntra. Globally too sales increased in the first half of the year, compared to a year ago period. The pandemic led to reduced footfall as a result of continued restrictions and store closures. At the most, around 1,800 stores were temporarily closed, i.e. around 36 per cent of the group’s total number of stores.

In the year-ago quarter, the retailer had reported 70 per cent y-o-y dip in net sales as India remained under a strict lockdown for most of the period. The retailer was quick to roll out more comfort and casual wear as the pandemic struck last year. This was true of its collection in India as well.

Apart from H&M, the retail group owns fashion brands such as COS, Monki, Weekday, & Other Stories among others. It plans to close 350 stores in 2021 and open 100 new stores. Most of the openings will be in growth markets while closures will mainly be in established markets.