Fashion retail brand H&M India's revenue rises 14% to Rs 1,700 crore

While H&M was heavily dependent on the online channel for sales, the recent crisis has increased its dependence on the channel further

Fashion retail brand H&M registered Rs 1,700 crore sales in 2019, 14 per cent higher year-on-year (YoY) from Rs 1,490 crore it had posted a year ago. Since its entry in 2015, the Swedish brand has managed to grow its business in India by double digits. 

However, in 2019, its growth fell significantly from the previous year. In 2018, its top line had grown 43 per cent.

According to its country manager for India, Janne Einola, in the current year, its top line may suffer. 

With the Covid-19 pandemic and lockdowns severely impacting on-floor shopping, Einola expects to end the year