New Inspiration Through Unique Collections
Interview with H&M
There are two letters that stand for one of the most successful fashion companies worldwide: H&M. The Swedish company, based in Stockholm, continuously manages to bring pulses and innovations to the market with new collections. In the interview with Wirtschaftsforum, however, the focus is not only on fashion, but also on major industry topics such as sustainability, digitalization, and corporate culture.
Wirtschaftsforum: What current collections from H&M can we report on? What distinguishes them?
H&M: We always strive to provide our customers with new inspirations, and we achieve this through our unique collections. Our biggest fashion statement is made with our limited H&M Studio collection, for SS and AW. We collaborate with our own design team on unique, great fashion that presents our key trends of the season. H&M Studio represents our love for fashion and the heart of what we do. This year, streetwear meets elegance, reflecting the creativity and energy of New York. This year's H&M Studio AW17 collection will be available from September 14th in H&M stores and online.
In addition to the H&M Studio Collection, more exciting collaborations await our customers. For many years, we have engaged in collaborations with designers and style icons, making designer fashion affordable and accessible while simultaneously underscoring our company concept: fashion and quality at the best price in a sustainable way. This year, H&M is collaborating with the unique London designer Erdem, who is equally popular among celebrities and fashion insiders. Our customers will be transported into his fascinating world of powerful patterns, wonderful fabrics, and craftsmanship with the new collection. Visionary filmmaker Baz Luhrmann brings this collection to life with his unique storytelling. ERDEM x H&M will be available from November 2nd in selected stores and on hm.com.
H&M
"This year, streetwear meets elegance and reflects the creativity and energy of New York."
H&M
Following the successful German collaboration with Cro in 2013, this fall we continue our commitment to young, talented artists by collaborating with the Hamburg artist Ace Tee. On September 7, the jointly created collection Ace Tee x H&M will be released. Ace Tee, whose music is heavily influenced by the 1990s, was involved in the entire design process of her collection with H&M and we are very excited to soon present the collection. We believe that fashion and music are very closely linked.
Wirtschaftsforum: What target groups are especially important for H&M?
H&M: The H&M collection is very diverse and offers fashion and quality for every occasion. We are a global, worldwide active fashion company and present in a total of 66 markets. Consequently, it is natural that the diversity of various markets and cultures is reflected in our collections. Our collections range from offerings for women, men, teenagers, and children, from timeless basics to the latest trends. The range is completed by H&M Beauty and the interior concept H&M Home.
Wirtschaftsforum: What role does digitalization play at H&M and what impact does it have on the retail business?
H&M: The stores are the heart of H&M. The starting point for everything we do is the customer and our offering to the customer. Mail order is an indispensable and growing complement to the stores. The digital store complements and strengthens H&M's profile by offering even more service to the customers, making H&M even more accessible.
Social media, with its different channels, additionally helps us to disseminate both global content and local topics widely and also to reach customers who, for example, do not have a store nearby or only have a smaller selection available. For H&M, digitalization is a great opportunity to maintain proximity to the customer and to be available for an exchange at any time.
Wirtschaftsforum: Sustainability is a major issue in the textile industry. How does H&M address this issue?
H&M: The business concept of H&M is to offer fashion and quality at the best price in a sustainable way. Social responsibility and sustainability are therefore deeply embedded in our company. The vision of H&M is that all our actions should be economically, socially, and environmentally sustainable. It is a holistic approach to promote and demand sustainability in every area of our company. For example, during the design process, we train our colleagues on more sustainable alternatives in terms of materials or dyeing processes. Our design process is always about the right balance between fashion, quality, and the best price. It always includes the aspect of sustainability, which means that people and the environment must be given strong consideration – from the sketchbook to the customer.
Wirtschaftsforum: To put it simply: What distinguishes your company from the competitors? What are your individual success factors?
H&M: H&M has been family-owned to this day, with Karl-Johan Persson as the CEO of the H&M Group. Stefan Persson, the son of Erling Persson, is also the chairman of the board of the H&M Group. 70 years ago, Erling Persson defined the values he cherished and the foundation he wanted to set as a standard for the daily actions of all colleagues. From the beginning, he combined entrepreneurial thinking with a value-oriented approach to work. And our employees live these values globally every day. For example, one of our most important values is continuous improvement. It shows that only constant improvement and development lead to long-term success. Long-term investments in research and clear visions for the future are important factors for success for the H&M Group.
But also values such as team orientation and openness, entrepreneurial thinking and action, as well as cost awareness make us exactly what we are today: the most successful global fashion company in the world.
Wirtschaftsforum: How will the market develop in the coming years? Where do you see your company in five years?
H&M: H&M is committed to steady and healthy growth, a recent example is the expansion of the H&M Group's brand portfolio. On August 25th this year, the first Arket store opened in London, which will offer both its own and third-party products, thus joining the brands of the H&M Group. H&M itself continues to grow, as this year we opened our first store in Colombia, with Iceland and Kazakhstan to follow in the autumn. We see H&M still as a global brand in five years' time, with which customers around the world can identify, and our fashion helps to express their own style and personality.
We are already formulating goals and visions today, which will be of great importance in the future. One in the area of sustainability, is that we will become climate positive along the entire value chain by 2040. Additionally, by 2030 we aim to use exclusively recycled materials or materials from other sustainable sources.