Following a new investment, H&M Group has acquired a majority stake in re-commerce platform Sellpy. The investment should support the platform's expansion abroad, as well as fitting in with H&M's objective of becoming more sustainable.
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Yesterday, H&M Group announced that their budget fashion chain, H&M, which represents the majority of Group sales, will trial selling external brands and products. A major change of strategy.
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In the third quarter, H&M Group recorded a 12% increase in sales. Taking into account constant exchange rates, the increase was 8%. And it was all thanks to a good summer.
Afound, the newest outlet and multi-brand formula created by the H&M group, is making its entry in the Netherlands. It will be the first market for Afound besides domestic Sweden.
Swedish fashion giant H&M has seen growth for the fifth consecutive quarter, as turnover rose by 11 %. Still, there is much work left to be done, as the chain readily admits.
Streetwear label Weekday has opened a new store of 400 sqm in Leuven. The H&M subsidiary has adapted its store concept to cater for the Belgian city's student population.
H&M subsidiary ARKET has announced the opening of a second Belgian store in Antwerp next spring. The new store will also serve a few Scandinavian dishes according to the New Nordic Food Manifesto.
H&M subsidiary Monki will collaborate with ‘influencers’: the fashion label will launch a global program for social media figures, who can earn money if they sell clothing.