H&M awaits approval to open stores in India

08/25/2013 | Business Standard (India)

Swedish furniture giant IKEA has received the go-ahead from India's government to start opening stores, but fashion chain H&M still awaits the first necessary approval under India's laws governing ownership by single-brand retailers, according to the law firm advising both chains. H&M, which operates 2,500 stores in 49 global markets, aims to open about 50 in India after it wins approval.

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