H&M is the world’s second largest clothing retailer, after Inditex, and the UK is its third-largest market. In the UK, it has over 300 stores, including the H&M, Monki, & Other Stories, Weekend, Arket and Cos brands. Founded in 1947, the Swedish retailer operates in 62 countries worldwide. The retailer has heavily invested in digital to enhance customer experience. As well as introducing several ecommerce initiatives in the UK including click-and-collect and a ‘scan and buy’ feature in its mobile app, it is also implementing a logistics system to enable a faster and more efficient supply chain. H&M launched its UK website in 2010 and by late 2019 it had an online presence in more than 50 markets. The retailer has also launched new store concepts including a stand-alone H&M Home store in 2019. H&M has a sustainable ethos with its Conscious range and recycling scheme – whereby customers can return a bag of any-brand clothing for a £5 voucher.
H&M has announced it expects a return to profit this year, as its finances begin to recover post-Covid.
H&M Group chain & Other Stories has debuted a vending machine in its Paris branch in a bid to drive contactless cosmetics sales.
It’s been three months since the Black Lives Matter (BLM) movement hit the headlines following George Floyd’s death. With the hashtags now fading, Retail Week looks at what retailers are doing to continue the momentum.
As modern slavery allegations blight the world of fast fashion and the world pauses to think about the impact of consumerism in lockdown, is this the turning point to change the fashion industry for the better?
H&M will close 170 stores across its stable of brands by the end of this year in reaction to the coronavirus pandemic and its knock-on effect of fashion sales.
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