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H&M Opening Stores in India, Philippines and Australia This Year

Hennes & Mauritz, more popularly known as the clothing retailer H&M will open its first store in India this year. In December of 2013, H&M received governmental approval and will now invest EUR 100 million to open 50 stores in India, Asia's third largest economy.

CEO Karl-Johan Persson is very excited about the opportunity as India show much "potential."  Technopak, a retail consulting firm based in India estimates that by 2021 the textile and clothing market will be a $141 billion industry. 

News of opening stores in India comes on the heels of announcing 80-90 stores in China as well as entering Philippines and Australia this year.