24 December 2021, Mumbai:
Swedish fashion retailer Hennes & Mauritz (H&M) reported an 11% fall in sales in the year to March 2021, but still managed to retain its position as India’s largest fast-fashion brand.H&M sales down 11%; still India’s largest fast-fashion brand. H&M posted sales at Rs 1,402 crore during 2020-21, down from Rs 1,582 crores crore in the year-ago, according to its latest filing.
The performance is in line with the overall trend within the apparel segment where rivals including Marks & Spencers, Shoppers Stop, Trent, Aditya Birta Fashion & Retail and Lifestyle International saw their revenues shrink and losses widen during the year.
ET (The news article has not been edited by DFU Publications staff)
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