Sweden’s popular brand H&M will now also sell external brands as a part of a trial for their new strategy.
The group’s smaller brands i.e &Other Stories and Arket are already marketing external brands in addition to their own products.
A company spokesman has further added that they are optimistic that this new approach will attract new shoppers.
Furthermore, H&M earlier on Monday reported an 8 percent rise in third-quarter sales, measured in local currencies.
The H&M brand will now develop our offer of external brands. The purpose is to complement our offer with external brands to add excitement and energy and we see great opportunities for growth and to find new customers.
We have set a first vision on what we would like to do — now we will set the plan on how to test and scale this for H&M. -H&M
Other brands such as Britain’s Next Plc have started to use this strategy as well. This will give the 72-year-old brand a new approach to compete with multi-brand selling retailers including Germany’s Zalando and Britain’s Asos.
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