Probably betting on seamless imagination of its customers, the Swedish Hennes & Mauritz (H & M), world number two ready-to-wear, chose "& Other Stories" to christen its new brand. This chain of clothes, shoes, bags, accessories, beauty products and makeup will be launched "in the spring," he promised, Wednesday, January 9, the direction of H & M.
In Barcelona, Berlin, Copenhagen, London, Paris, Milan and Stockholm, the store will be located in an upscale neighborhood - Corso Vittorio Emanuele store for Alpine, Regent Street on the other side of the Thames or rue Saint-Honoré in Paris.
The group wants to "enable women to create a style that looks like their" mix trends - glamorous tomboy or neoclassical - all in a wide price range, from 7 euros to 225 euros thongs leather boots . Online marketing will help to "expand our audience" in ten European countries, says the CEO & Other Stories, Samuel Fernsröm.
DIVERSIFICATION IS TO MEET THE COMPETITION
For the young CEO of H & M, Karl-Johan Persson, this diversification is especially better equip the group to face the fierce competition of the Spanish Inditex, which overtook the title as the world of fashion in 2011.
The offer of the parent of Zara is already much more expanded: in addition to the brand of "fast fashion", which represents 67% of its turnover, the giant La Coruña has increased its signs and therefore its customers with Bershka (connected), Massimo Dutti (male) Zara Home (home), Pull & Bear, Stradivarius, Oysho or Uterqüe (upscale), yet absent in France. H & M launched its new brand later, Collection of Style (COS) in 2007 (classic chic) and Monki (older audience) and Weekday.
The battle of two giants played especially internationally. Inditex opened 360 new stores in the first nine months of 2012, bringing its global fleet in 5887 pushing its shops and fires to Armenia and Macedonia. This strike force, which allocates exposure to economic downturns, it has mid-September to announce an increase in its half-year sales in 2012 from 17% to 7.2 billion euros, an increase of 32% its net profit to 944 million.
In addition to these results insolent, the Swedish group is not too much to celebrate: he announced a profit almost stable sales up 7% over the third quarter of fiscal offset (June to August) due in part to the negative effects of exchange rate of the Swedish krona. H & M has continued to gain market share, was then consoled Persson, deciding to accelerate the opening of new shops: we finally counted 300 in 2012.
KEEP AN ETHICS VIS-À-VIS ITS SUBCONTRACTORS
This year, the Swedish will land in Serbia, Chile, Estonia, Indonesia ... End of August 2012, there were 2629 shops on the planet. Analysts polled by Reuters, H & M can capitalize on its core brand and expand further in Europe, North America and Asia, but will struggle to reach 10% to 15% growth it aspires.
This gigantic race between these giants of the fast fashion does not smooth: how to satisfy its shareholders and offer jeans at 10 euros while keeping a certain ethic vis-à-vis its subcontractors? wonder many NGOs. Just recently, the British Anti-Slavery International has forced H & M not to use cotton harvested by "people reduced to forced labor" in Uzbekistan. Greenpeace has obtained, for its part, H & M produces "clean jeans" 2020 - what Zara has not yet begun.
CEO of H & M spares no effort to appear virtuous. First time buyer in Bangladesh, where textile workers are paid a pittance, he told the Swedish daily Expressen to advocate "for all workers receive higher wages and for that we are working with the political class to meet the minimum wage. " Maybe he could impose himself minimum wage to its subcontractors ...
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