Fast fashion, a contemporary fashion retail trend of today, has been making waves and has become a subject of controversy. H&M, one of the large retailers governed by this principle is as equally controversial as its driving philosophy – controversial yet loved by many.
H & M Hennes & Mauritz AB is a retail clothing company of Swedish origins. Its operation is based in the fast fashion principle and offers apparels and accessories for men, women, teens and kids.
H & M’s collections are based on the latest trends and designs presented in the Fashion Week, twice a year (every spring and autumn annually). Typically, the participants in the Fashion Week are high end designers who carry equally high end brands. Fast fashion, and eventually, H & M, aims to provide customers with the same latest trends at a more affordable price. This is the reason why H & M is being patronized by many, especially those who wish to become fashionable without burning a hole in their pockets.
As of late, H & M has 2,300 stores all over the world. These branches are strategically scattered in 43 countries and all in all, H & M stores and offices are manned by 94,000 executives and employees. H & M is coined as the second largest clothing retailer that operates globally, second to ZARA’s parent company, Inditex.
H & M’s design team is based in their Sweden office where the production steps are controlled, from planning up to establishing the specifics. The production is outsourced to different factories in different locations in Asia and Europe.
H & M is currently chaired by Stefan Persson, with Karl-Johan Persson as president and CEO. As of 2010, it has a revenue of SEK 126.97 billion, with a profit of SEK 18.68 billion.
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