H&M Group is optimistic about the future after a solid recovery in the past nine months: sales grew by 14 per cent, but it is above all the net profit that has recovered from the coronavirus and has increased sevenfold.
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Cross-Border Commerce Europe has published its third edition of the "Top 500 online cross-border EU retailers", an annual ranking of the 500 best European cross-border online stores.
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H&M Group has also been hit hard by the second lockdown wave: in 2020 profits plummeted 88 per cent, while sales were down 18 per cent. Crisis management in times of the coronavirus is costing the fashion giant dearly.
Arket, one of the brands of H&M Group, starts renting out children's clothes this week. The Scandinavian lifestyle brand will collaborate with the Dutch clothing rental company Circos.
Sustainable fashion does not just mean recycling fabric. It also means virtual wardrobes, improved algorithms and product identification. Vanessa Rothschild, head of sustainability, explains H&M Group's approach.
H&M Group is launching a new retail brand: Singular Society. The Swedish label has a particular business model: customers pay a membership fee, which entitles them to a number of purchases per month. The Netflix of clothing.
H&M Group is fined a record amount of 35 million euros for violating GDPR rules: the fashion player is alleged to have illegally stored private data on employees in Germany.
H&M plans to close hundreds of stores. The fast-fashion group wants to have 250 fewer stores by the end of next year, even though the retailer believes that the worst of the corona crisis is behind us.
H&M continued to lose revenue this summer: in the quarter to the end of August, the fast-fashion group sold 16% less than last year. On the positive side, the fashion giant returns to profitability.
H&M subsidiary & Other Stories, which also has a range of beauty products, is testing a vending machine with its products in Paris. The retailer wants to promote contactless shopping during the coronavirus pandemic.
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.
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.
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.