Since its inception online in 2009, H&M Home offers furniture, bedlinen, dinnerware, textiles, furniture and lighting.
In response to the uptick of demand for home decor, the Swedish brand H&M will start selling home decor items, bedsheets, linens, dinnerware and furnishings from March. The range will be sold online through its website and online partner Myntra.
The business also plans to open an H&M HOME shop at its existing New Delhi location soon, though no date has been set.
Ida Lindahl, General Manager at H&M HOME said in a statement, that Indian markets hold a substantial amount of potential and that the company is excited to meet this market’s demands.
The debut of H&M HOME coincides with IKEA’s rapid expansion into the country. IKEA opened its first city shop in Mumbai in December, with others planned for this year; the company aims to reach at least 500 million Indians by 2030.
According to the research firm RedSeer, India’s rapidly increasing furniture and home sector is predicted to reach $40 billion in GMV (gross merchandise value) by 2026. Online furniture and home sales are predicted to expand at a robust 39 percent CAGR over the next five years. Home decor, furnishings, bedding, and lights are all included in the online home category. In the next five years, the online furniture sector will experience a 3X boost in shoppers and a 1.8x increase in yearly spending per shopper.
Yanira Ramirez, Country Sales Manager, H&M India stated that there is a lot of interest and demand for interiors and designs and customers ask for ‘fashion and quality at the best price in a sustainable way’.
According to a corporate statement, H&M HOME is an idea that offers easy-to-move furniture and lights for the so-called rental generation who live on short leases. It debuted online in 2009 and is now accessible in most H&M online markets, solo concept stores, and H&M store shop-in-shops.
H&M first opened its doors in India in 2015, and now has 48 locations. In 2018, the business launched an online store in the country. It partnered with Myntra in 2019 to sell on the latter’s marketplace.
