Business

H&M takes on internet competitors with external fashion brands

An H&M logo can be seen at a store in Stockholm
FILE PHOTO: An H&M logo is seen at a store amid the spread of the coronavirus disease (COVID-19), in central Stockholm, Sweden April 2, 2020. TT News Agency/Fredrik Sandberg via REUTERS

March 17, 2022

By Anna Ringstrom

STOCKHOLM (Reuters) – H&M is selling external fashion brands on its core brand hm.com’s website in Sweden and Germany for the first time, with plans to add more brands and markets.

H&M acquired online fashion marketplaces such as Zalando, Asos and Amazon and began expanding its offering in its Swedish home market in February, first reported by Fashion Network.

“Customers can now shop from more brands in the H&M Group family, as well as a curated selection of other fashion brands including Lee, Wrangler and Kangol, among others,” a spokesman told Reuters via email.

“We introduced the concept in Germany in March. We will continue to add more brands and expand the concept to other markets in the future.”

Some of the smaller and newer independent H&M chains like & Other Stories and Arket sell third party brands, mainly accessories and shoes.

The H&M chain, which accounts for the majority of the group’s business, has so far only offered beauty products from third-party brands.

Even before the COVID-19 pandemic, H&M was struggling with declining traffic to its core H&M brand’s physical stores amid increased competition, not least from online platforms.

The H&M spokesman said it had also launched a second-hand offering at hm.com in Sweden.

(Reporting by Anna Ringstrom; Editing by David Goodman)

https://www.oann.com/hm-takes-on-internet-rivals-with-external-fashion-brands/?utm_source=rss&utm_medium=rss&utm_campaign=hm-takes-on-internet-rivals-with-external-fashion-brands H&M takes on internet competitors with external fashion brands

DUSTIN JONES

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