H&M is expanding online while closing stores in a way that it says reflects the changes it sees in its customers’ behaviour. The store openings are in growth markets while the retail group, whose brands include Cos, Monki, Weekday and & Other Stories, is closing shops in its more established markets. 215 physical shops will be closed Its current financial year
H&M sees online sales grow 40%
Online sales at H&M Group have risen 40% in the six months to mid-2021. H&M experienced a 12% total rise in sales across the group. Moreover, sales grew by 75% in the second quarter of 2021, as shopper confidence continues to return. Due to more vaccinations customers can once again visit the physical stores. With the combination of much-appreciated collections,
Investment in digital helped H&M turn a profit
In recent years, H&M has done the investment to enable shoppers to buy where, when and how they choose. This stood it in good stead during the COVID-19 outbreak. The retailer reported a profit for its latest financial year. Despite lockdowns that meant up to 80% of its stores had to close temporarily at the beginning of the year. Digital sales have helped to compensate
Fashion Transparency Index 2020: H&M close to the top
The H&M Group along with Adidas, Reebok, Patagonia and Espirit are currently the world's most transparent major fashion brands. According to Fashion Revolution these brands score between 61-70% when it comes to transparency. Fashion Revolution's annual report lists the amount of information companies disclose. This includes processes and effects within their operations
H&M tests selling external brands
Fashion retailer H&M is considering changing its business model in the near future. The Swedish retailer is experimenting with selling external brands and products, both in selected stores and on its online platform. Swedish news site Breakit discovered a job advertisement, in which the fashion company expressed interest in a Head of External Brands. Part of the job