H & M Hennes & Mauritz AB Aims To Set Up Shop In India-Reuters

Reuters reported that H & M Hennes & Mauritz AB will apply to open stores in India, as it seeks to expand into faster-growing markets. The Indian government has been pushing through reforms to allow foreign retailers into the country to help stimulate the economy. Like Swedish furniture maker IKEA, which is waiting for its own application to be approved, H&M hopes to cash in on a growing urban middle-class with a strong demand for western-lifestyle products.