H&M seeks more control for India retail operations

H&M following the footsteps of its Scandinavian peer, IKEA, has asked the Indian government to open wholly owned subsidiary in India in order to gain control of its Indian retail operation. Visiting H&M chief executive Karl-Johan Persson labelled India as a “very interesting” market. If the proposal is approved, it will be the 50th country where H&M will have a retail presence.

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