Team siliconindia

• H&M to launch premium brand Cos in India this year
• India seen as a key market as sales slow in Europe and US
• Rising middle class fuels demand for affordable luxury fashion

As demand slows in Europe and the US, global fashion giant H&M is turning to India for its next phase of growth. The company plans to launch its premium brand Cos in New Delhi by the end of this year, tapping into the country’s growing appetite for affordable luxury and minimalist fashion.

H&M, CEO, Daniel Erver, called India a 'super interesting market' and said the country, along with Brazil, represents a major opportunity for future growth. He added that H&M is focusing on markets where rising incomes and changing fashion preferences are creating space for new brands.

Cos, known for its sleek, minimalist design and higher price points such as Rs 12,000 ($149) dresses and Rs 24,000 ($299) cashmere jumpers will test how well aspirational luxury performs in India’s expanding urban centres.

This move comes as H&M trims its global footprint, with the total number of stores falling 19% since 2019 to the lowest level since 2016. The brand has been closing underperforming locations in mature markets and rethinking its retail strategy to become more agile and trend responsive.

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India’s fast growing middle class, urbanisation, and booming retail scene make it a strong bet for international brands. However, competition is tough, with Zara already well-established and Shein eyeing a comeback via Reliance Retail.

As H&M ramps up efforts in other emerging markets like Brazil, El Salvador, and Venezuela, India is clearly at the center of its global expansion plans.