H&M will soon sell external brands
Swedish fashion giant H&M is testing a new sales concept of selling external brands and products.
The new strategy is for the core brand Hennes & Mauritz itself and is also a step towards direct competition with online retailers such as Zalando and ASOS, who have always claimed a wide range of brands.
The move would follow H & M’s contention with sales losses in the past three years which although was in line with market expectations but nevertheless was not enough to keep up with the competition. The retailer is hoping that by supplementing its offerings with external brands will create opportunities for growth and allow it to attract new shoppers.
Within H & M subsidiaries such as & Other Stories and Arket, the concept of selling external brands in addition to their own products already exists. Whether H&M will implement the new sales strategy remains to be seen.
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