H&M Hennes & Mauritz GBC AB Overview
Company Headquarters: Stockholm, Sweden
Founded: 1947
Workforce: ~177,000
Company Working: H&M Hennes & Mauritz GBC AB manufactures and sells clothing, footwear, cosmetics, home textiles, bags, and a wide range of accessories. The company offers these products under its brands H&M, COS, Weekday, Monki, H&M HOME, & Other Stories, ARKET, and Afound. The company sells its products u through approximately 5,000 online and retail stores.
Strategy
H&M Hennes & Mauritz GBC AB is focused on building strong strategic partnerships with global and local distributors around the world, offering customers products according to changing fashion trends. Due to stiff competition in the market, the company has been introducing enhanced and differentiated products to attract new customers. The company’s R&D initiatives are aimed at product innovation, improvement of existing products, identifying and developing new benefits, and developing new products. The company also plans to invest more on geographic expansion to increase its presence across the globe. For instance, the H&M online portal is currently available in 47 countries and, in 2019, the company plans to launch its online platform in countries such as Mexico and Egypt via franchises. Additionally, the company plans to open around 335 new stores, 240 of which under the H&M brand. It also plans to open 95 stores of the brands COS, & Other Stories, Monki, Weekday, ARKET, and Afound by the end of the year. In in 2019, three standalone H&M HOME stores are to be established by the company. Of the new H&M stores that open in 2019, around 25 will incorporate an H&M HOME shop-in-shop. The majority of the H&M store openings are expected to be in markets outside Europe and the US.
