As H&M launches a Pre-Loved Archive collection, offering shoppers the opportunity to purchase iconic items from the brand’s back catalogue, the Nordic 360° report looks at Sweden’s third-largest company new digital experience.
H&M is the biggest fashion brand in the Nordics. It was founded in 1947 and has since expanded to more than 70 different markets where it is known for its fast fashion and moves towards sustainable production. The brand sells via 3,800 bricks-and-mortar stores in 77 markets as well as online in 60, and additionally on marketplaces in those countries. H&M ranks as Elite in the Europe Top1000 2024.
In January 2024, company veteran Daniel Ervér became CEO, following the announcement that Helena Helmersson was stepping down after four years at the helm. Commenting at the March release of the Q1 financial results, he said: “We have a fantastic position with billions of visits a year to our physical and digital stores. We have more than 200 million customers in our loyalty programme, in a global market that external market analysts expect to grow by more than 5% a year up to 2028. With our long-term and high ambitions for a sustainable fashion industry, I am pleased and humbled to be entrusted with leading the H&M group.”
H&M is in the process of refurbishing around 250 stores globally, including Stockholm, to elevate the customer experience with digital services and a locally adapted assortment. According to Ervér, the brand’s top priority is to “strengthen sales, and our target of a 10% operating margin for full-year 2024 thus remains in place”.
The brand has also successfully tested an updated online store which will launch in its largest markets during the autumn of 2024. This new digital experience has been planned to inspire customers and give them clearer recommendations on how garments can be styled and which fit is right for them.
“We are also continuing to invest in the supply chain, where we are seeing positive effects from better availability of the right products between the channels and greater precision when the lead time from design to the product reaching the customer is shortened,” the company has stated.
Going forward, results for the year are promising, with Ervér announcing that the company had achieved its best results for many years in the second quarter. “We are now raising our ambitions further to strengthen the brand, the customer offering and the shopping experience. With a focus on our customers, committed colleagues and a faster pace of investment in the second half of the year we see good conditions for continued profitable, long-term and sustainable growth,” he said.
This profile originally appeared in the Nordic 360° report.
This new format reports on the digital landscape in Denmark, Finland, Iceland, Norway and Sweden, consumers’ attitudes to shopping online and details of the retailers that lead the market.
These are analysed through charts and a RetailX ranking of the Top100. The report investigates market dynamics, retailer performance and the ongoing trends that are shaping online and omnichannel retailing in the region.
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