about H&M

Topics: Clothing, Fashion, Customer, Customer service, Brand / Pages: 2 (424 words) / Published: Oct 8th, 2014
1. About H&M
(1) H&M history
-H & M Hennes & Mauritz AB comprises five different independent brands – H&M, COS, Monki, Weekday and Cheap Monday. The H&M Group has a total of approximately 2,700 stores all over the world.
-From a single womenswear store in 1947 to a global company offering fashion for the whole family and their home, under the brand names of H&M, COS, Monki, Weekday, Cheap Monday and H&M Home.
-2012 H&M plans to open in Bulgaria, Latvia, Malaysia, and Mexico and via franchise in Thailand and also to introduce e-commerce in the US.

(2) H&M’s business concept
-H&M business concept is to give the customer unbeatable value by offering fashion and quality at the best price. H&M’s own designers interpret the latest fashion trends and create collections that are accessible to all.

(3) H&M seven important core factors
•Keep it simple
•Straight forward and open-minded
•Constant improvement
•Entrepreneurial spirit
•Cost conscious
•Team work
•Belief in people

2. STP
● Segmentation - People who are interested in fashion and want to buy low cost of clothing products.
● Targeting - H&M has expanded substantially in recent years with 3300 stores spread across 54 markets with a growth target to increase its number of stores by 10 to 15 percent per year.
- The target customers of H&M belong to the group of fashionable and trendy consumers who see shopping as a social activity providing pleasure in their daily life. They acquire the most fashionable clothes each season and want to follow the trends without investing a lot of money. In order to fulfill the needs of the customers, H&M launched EDLP (Every Day Low Prices) products. In addition, they invited the top fashion designers in the industry such as Karl Legerfeld to be their partners for designing the new collection. As shown in the emotional curve, there are two pleasure peaks happening in the process which are psychological identification and product price. As a result, we

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