Swedish fashion group H&M's turnover in its fiscal year 2016, which ended on 30 November, grew 7 %, but a strong dollar and an increased amount of discounts led to a lower profit compared to the year before.
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Swedish fashion chain H&M has released a new sports collection, called For Every Victory. The Swedish Olympic team has helped to develop the collection, while Caitlyn Jenner will be one of the campaign's faces.
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Swedish clothing giant Hennes & Mauritz has seen its second quarter turnover grow 5 % compared to the previous year, mainly thanks to a 10% increase in the number of stores.
Swedish H&M once again managed to attract a big name to create an exclusive collection for the fashion chain. This time around, the Parisian fashion label Kenzo will creatively collaborate with H&M.
Swedish fashion concern H&M released a statement saying it is still working side-by-side with labour unions to improve working conditions at its suppliers. The company decided to react after a report uncovered some horrific circumstances in India and Cambodia.
Swedish fashion chain H&M has brought an interactive digital experience to the Coachella festival in California. H&M's Coachella booth focuses on the company's sustainability efforts.
In H&M's new Sustainability Report, the Swedish chain said it continues to advance when it comes to sustainability. 78 % of the company's electricity already comes from renewable sources, three times as much as in 2014.
In its first quarter of fiscal year 2015/2016, Swedish clothing group H&M's net profit dropped due to higher purchase costs and a difficult sales period.
Swedish fashion group H&M is to open its first Belgian Weekday store soon, which will be its fourth label in Belgium, following H&M, & Other Stories and COS.
Swedish fashion chain H&M continues to lay out its sustainability program and has presented its Conscious Exclusive collection in Paris, while it will also continue its sustainable fashion innovation efforts.
Swedish fashion company H&M has managed a record profit over the past fiscal year, remarkably in the year where almost every other fashion retailer struggled because of a warm winter.