No Concrete Plans To Enter India Yet, Says H&M

Swedish fashion retail giant Hennes & Mauritz (H&M) does not have any 'concrete' plans to enter India although the government here has decided to allow 100 per cent foreign direct investment in single brand retail.

"While we are always looking to expand our presence in markets across the globe, we have no concrete plans at the moment to enter India," a spokesperson of H&M told PTI over phone from Stockholm.

Prior to last week's decision by the government to relax the FDI norms in retail further, H&M has been speculated to be engaged in discussions with India's fashion retail companies, including DLF Brands, Reliance Brands and ITC to explore ways for entering India.

From: http://ping.fm/8w6Q9