The world’s second biggest fashion retailer has revealed an 8% increase in September sales, in line with analyst forecasts.
The Swedish group seems to have not been affected by the Indian summer, which Retail Gazette reported a few weeks ago, reporting how the hot weather this summer hindered high street sales dramatically.
The retailer’s total number of stores amounted to 3,388 on 30th September versus 3,006 in the prior year period.
Further to their success, last week saw the launch of the highly anticipated collection; Alexander Wang for H&M.
H&M began collaborating with high-profile designers and celebrities for its collections as a strategy to maintain their growth momentum. Offering its entry-pricepoint customer access to designs that were typically unattainable resulted in sales surges each time a new collaboration was released into stores. Versace for H&M sold out in both Dubai and Beijing in under 30 minutes, the retailer’s website crashed because of the high volume of traffic.
Carlos Duart, H&M’s Country Manager said, “We believe high fashion design doesn’t have to be a matter of price. From the first collaboration with Karl Lagerfeld in 2004, to our collaboration last year with Isabel Marant, the designers are always so unexpected and different from previous years.”
H&M has previously worked with many international brands, including Jimmy Choo, Versace, Stella McCartney and many more.
The collaborations continue to help H&M grow from strength to strength and the company is highly praised for bringing the best of otherwise exclusive fashion to the masses.