// H&M to sell more third-party brands online and in stores
// The business now has 70 external brands on its platform in six markets
H&M is set to add more third-party brands to its stores and websites in a bid to attract more customers.
The Swedish fashion giant which owns H&M, Arket, Cos and more launched its marketplace strategy last year to help it compete against rivals including Shein and Zalando.
The business has added 70 outside brands to its platform in six markets after posting better-than-expected profits in the last quarter thanks to its strong external brand strategy.
Chief executive Helena Helmersson told Reuters: “This has been really well received by customers who also complement the H&M assortment with other brands.”
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
It contrasts with the approach of fashion titan Zara, which has been better able to shift its higher priced clothes despite the ongoing cost of living crisis.
The Inditex-owned retailer only offers other brands only for exclusive collaborations, such as its partnership with Clarks last year.
Reuters reports that H&M’s Monki brand would launch on Hong Kong ecommerce site Zalora, indicating the company’s willingness to increase its presence on third-party platforms, in contrast with Inditex’s Zara.
Click here to sign up to Retail Gazette‘s free daily email newsletter
