Firm behind Beckham underwear looks to score in India
Retailer H&M, which makes pants endorsed by the British footballer, to spend $136k launching first store in India
The company that makes David Beckham-endorsed underpants is expanding in India, targeting the country’s middle class, The Times reported Thursday.
“We are very excited to open our first store in India. It is one of the most exciting countries in the world right now, with so much potential,” Karl-Johan Persson, CEO of Hennes & Mauritz (H&M) said.
H&M, the world’s second-biggest retailer, is planning on spending about $136,626 to launch its new store after getting the approval from the Swedish government in December.
The retailer said last month it planned to open 375 new stores worldwide in 2014, including 80-90 in China.
Founded in Sweden in 1947, H&M is currently present in 53 markets worldwide, with over 3,100 stores.