“customers are storming H&M stores start selling the Versace collection”. This headline is almost ten years old. The Swedish fashion giant was once the epitome of clothing on the pulse of the time at reasonable prices. However, in recent years, the company slipped in the crisis. The gain shrank, and the share price halved within five years. Competitor Zara was in Trends faster and Primark is cheaper.
Also in Switzerland, the company struggled with problems. Between 2010 and 2018, the turnover fell by 30 percent to around CHF 600 million. Especially 2018, the break-in was significantly. Since October, H&M the 38-year-old Minna Carlberg, a new Switzerland Boss. Although the fashion retailer made in the past year in Switzerland and again a slight sales plus. Nevertheless, the challenges are still great.
The online retailer Zalando now generates more revenue in Switzerland as a H&m With significant investments in the online shop that is associated with the stores that responded, the Swedish giant on the tougher competition. Now Carlberg, which was previously considered to be Controlling officer for H&M in Australia wants to modernize the stores. “We are investing in our stores and in order to build this also. New lighting, plants, but also the presentation of the dresses change.” In this case, the branch network is put to the test. “Where necessary, we will close stores. However, we will also open up new,” says Carlberg. In the year 2018, H&M had reduced the size of its branch network in Switzerland for the first time from 100 to 94. Currently, there are 99 locations.
In Berlin there is at H&M, yoga classes and lectures
internationally, the company has established in addition to the core brand, H&M, and other formats. Service industry, as well as & Other Stories offer fashion in a more upmarket Segment. In Switzerland there are not the shops as yet. That could change. “Formats, such as service industry and & Other Stories are for Switzerland interesting,” says Carlberg. & Other Stories is already in 17 countries in Europe, North America and Asia. With the shops of the brand COS, the group is represented, however, in Zurich, Basel, Lausanne and Geneva. The Format is good. “We are looking into new locations for COS in Switzerland,” says Carlberg.
Successful companies in Germany with H&M Home, where instead of clothes and residential decoration is in focus. In the spring of the first large Concept Store in the shopping center Glatt. There are home accessories, furniture and lamps as well as products of other brands.
abroad, experimented with H&M with other new concepts, in order to attract more people in the stores. In Stockholm, the customer Party and wedding dresses to rent instead of buy. With such steps, the company also responds to criticism of the industry.
Maybe the Sweden, for the home delivery roles soon Velos Swiss cities.
The fashion industry is one of the largest sources of emissions.”Fast Fashion is the second biggest climate killer,” or something similar, the headlines read in the last year. H&M is trying to counteract. Who brings his old clothes in the stores, receives a shopping voucher. This offer is for Swiss customers “very popular”, says Minna Carlberg. “We need to change the way we operate our business. The whole fashion industry needs to be sustainable.”
In Berlin, H&M locally and Wellness. In a test store, the company offers fashion from Berlin designers. In addition, the business is to be a meeting place. Customers can buy not only clothes, but also for the yoga class to come, or lectures. The trial has been running since October.
Depending on the success of the concept will be expanded to further countries. For Switzerland, there is so far no such plans, says Carlberg, who is drawn with two children in Switzerland. Maybe the Sweden, for the home delivery roles, but soon Velos Swiss cities. “H&M to try out new concepts where they fit. In the Netherlands, we are currently testing, for example, the home delivery of the bicycles. This could also apply to Switzerland.”
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Created: 01.03.2020, 07:16 PM
