H&M is to strengthen its third-party offering online and in stores in a bid to attract more customers due to growing online rivalry.
The parent company of the fashion retailer launched plans for its marketplace last year to compete with the likes of Asos, Zara and Shein but has since added 70 brands to its platform across six markets.
Click here to view:
H&M is ranked Top50 in RXUK Top500 research
Some retailers already on the platform include sportswear brands Adidas and New Balance, and clothes retailers like Swedish mountaineering label Klättermusen.
“This has been really well received by customers who also complement the H&M assortment with other brands,” H&M CEO Helena Helmersson told Reuters.
“Now we need to focus on making sure that we have the right kind of backbone, for example, the right logistics, to really secure profitable growth.”
The move comes as the group, which also owns Arket, Cos and & Other Stories, reported stronger-than-expected profits in its third-quarter sales.
