H&M disappoints in the second half of the year and expects future cross-border cooperation

Business News Agency November 17th The world’s second-largest apparel retailer Hennes & Mauritz and the Italian luxury brand Versace’s cooperation series will be launched worldwide on Thursday (November 17). According to media reports, this cooperation will continue until 2014 with target sales of US$700 million. This will be H&M's eighth series of cross-border cooperation involving luxury brands.

H&M has been collaborating with Stella McCartney, Comme Des Garcons, Jimmy Choo since the launch of the cooperation series with Karl Lagerfeld, creative designer of the French luxury brand Chanel, a famous French fashion designer in November 2004. Lanvin and other heavyweight brands in the fashion industry cooperate.

The fashion retailer sold its high-end designs at a parity price in the form of “beautiful and cheap” and set off a wave of cross-border cooperation in the apparel retail industry. This year's US department store Target Corp. The cooperation series launched with the Italian brand Missoni is very popular with the market.

Analysts said that consumers responded enthusiastically to this type of cross-border cooperation. Each series of cooperation triggered a sensational effect of rushing to queue up. On the one hand, H&M's own turnover has continuously increased. On the other hand, major brands that cooperate with them also take this opportunity to get media exposure and enhance the image in the eyes of consumers, which is equivalent to a free promotion.

Next stop: Tom Ford

According to foreign media reports, H&M's next partner is former Former Designer Gucci Tom Ford.

When asked about working with a veteran designer who was nearly 50 years old, H&M's creative director Margareta van den Bosch replied, "Ford is an interesting brand and I don't mind his age."

The clothing company revealed that it did not contact the designer and Tom Ford also refused to respond.

The Baker & Hahn Collection Underwear Hängen & Mauritz, a Swedish clothing retailer based in Stockholm, recently released its October financial report, with same-store sales falling 2%. As of the end of October, the total number of stores worldwide reached 2,410, compared with 2,134 at the end of October last year.

According to Bloomberg News, H&M same-store sales have been bleak since the second half of the year and have fallen or remained flat for five consecutive months. According to the company’s financial report, same-store sales fell 6% in July; it fell 7% in September.

In order to revive sales and save profits, the apparel retailer plans to work with famous British football player David Beckham in February next year to design underwear products.

As of 19:35 on November 17th, Beijing time, H&M's stock price rose 0.29% to 204.40 points.

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