H & M Is A Bit Aggressive In Attacking The Children'S Wear Business
On January 29, H & M, a fast fashion brand, released its fourth quarter results. In the three months ended November 30, sales amounted to SEK 52.55 billion (US $6.29 billion), down 15% from a year earlier, to SEK 2.49 billion, compared with SEK 4.21 billion in the same period last year.
H & M said its strong recovery at the beginning of the fourth quarter slowed significantly when the second wave of pandemic again led to widespread new restrictions and closures. At the same time, H & M said 1800 stores, or 36% of the total, were closed and the number of shoppers who continued to move online was increasing. Net sales fell 23% year-on-year from December 1 to January 27 as 1800 stores closed.
Recently, H & M has been a little fierce in attacking children's wear business. First, H & M cooperated with Lee to create more sustainable denim products for children, and then launched children's clothing rental business. Consumers can receive children's wear of corresponding sizes only by paying 19.5 euro per month.
As children's wear has gradually become an important part of fashion consumption, fast fashion brands have entered this field to gain more market share, and M is no exception.
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