Master in Europe
At present, H&M is not strange to most people, because we almost can see the logo at every department in relative developed cities in China. It is becoming more and more popular with people at all ages. H&M, short for Hennes&Mauritz AB, is founded by Erling Persson in Sweden in 1947 and has since become into the largest retailing company in Europe. It is startling that even during recessions, H&M keeps increasing its market all over the world. H&M’s unique marketing strategy provides it the edge to develop steadily under various circumstances.
Erling Persson first found H&M after he realized how profitable a store can be when it holds the concept of “good products at reasonable price” during a trip to USA. And it has since held on to the concept in order to better run the business. Surely, H&M turned out to be such a huge success in Europe that it can be found in everyone’s closet.
Since 2007, there has been hundreds of H&M chain stores in China. H&M is the new favourite of the young owing to its successful concept of a combination of fashion, price and quality.
Huge market share in China
In the year of 2005, H&M started to work with fashion mastering brands, including MARNI, VERSACE, LANVIN, JIMMY CHOO etc. , to create new lines of products which were extremely popular with young ladies who are in desire of fashion but cannot afford to. H&M is in favor of efficiency. It put forward a rule that it accepts return and exchange of products unconditionally within 30 days, which is encouraging more people to buy more products.
edited by Amy Wang of daxue consultant in China