H&M prepares $130 million drive to crack Indian market

By Anna Ringstrom and Veronica Ek STOCKHOLM (Reuters) – Hennes & Mauritz plans to spend around 100 million euros ($130 million) on an initial 50 stores in India, hoping a growing population and rising incomes in Asia’s third-largest economy will fuel demand for its fast-changing fashions. Fredrik Olsson, head of expansion at the world’s second-biggest fashion retailer, said in an interview the Swedish group would continue a rapid rollout of stores across the world as it battles to catch up with larger rival Inditex . …