H&M Report by Dion Fanthom

THE BUSINESS REPORT DION FANTHOM

Front Cover. Full Image: Figure 1 Logo: Figure 2

CONTENTS Executive Summary

3-4

History of H&M

5-6

The H&M Group

The H&M Brand

The Organisation of H&M

Working for H&M

10 - 11

Internal Influences

The Wider Picture

Market Trends

14 - 15

Porters 5 Forces

16 - 17

PESTLE

18 - 20

1 | Contents

23 Where H&M Stand? 24 Competition 25 - 26 SWOT Analysis 27 BOSTON 29 - 32 Benchmarking 35 - 36 The H&M Customer 37 - 38 Marketing 40 Collating Customer Data 42 Ethics & Sustainability 43 What Next for H&M? 45 Conclusion

Figure 3

EXECUTIVE

SUMMARY This report is an analysis of the different elements that make up and affect the brand H&M. It will consider itâ&#x20AC;&#x2122;s historical timeline, where it is positioned within the market it shares, the internal influences imposed on the brand as well as those external influences that make up PESTLE. Looking at the competition which include Gap, Forever 21 and Topshop, the report will then go on to benchmark against market leader Zara in order to draw a comparison between the two leading high street retailers. Along with the theoretical componenets of this report, there will also be reference to the future of H&M and a personal opinion on what they can do in order to move forward in the market given the actions competitors are making.

Figure 4

Executive Summary | 4

FROM THE B Founded by Erling Persson and was first opened in Sweden as Hennes which translates to hers. At this point the company only sells womens clothing.

1947

Branching out, the first UK store now opens in London. This marks the start for the brands international awareness.

1976

1980s

1968

With stores opening in Germany and Netherlands, H&M now aquires Rowells; a mail order company.

The name changes to Hennes & Mauritz (H&M) after Erling Persson buys a hunting and fishing equipment store- H&M now starts selling mens and childrens clothing.

Figure 5

5 | Historical Context

H&M continue to dominate the European market by opening a store in France. This decade also saw the operation of online shopping for H&M.

1990s

2000

World domination continues as the first US store opens on Fifth Avenue, New York City. As well as this, H&M opened more stores in their European market including Spain.

Figure 6

BEGINNING. This year saw the first of the brands designer campaigns, debuting with a collaboration with Karl Lagerfeld! This was only the first of many succesful collaborations to come.

2004

2007

H&M opened its first Asian stores in Hong Kong and Shanghai. 2007 also saw new concept store COS launch.

With the first Japanese store opening in Tokyo, H&M aquire the fashion group FaBric Scandinavian AB, which housed the brands: Weekday, Monki and Cheap Monday.

2008

2009

H&M Home is launched as well as Weekday and Monki opening stores in Germany.

Online shopping starts within the UK. This year also saw H&M become the worldâ&#x20AC;&#x2122;s largest user of organic cotton which increased the recognition of their use of sustainable materials which has continued through the years for the brand.

2010

2013

The first H&M store opens in the southern hemisphere (Chile). A global scheme starts where clothes are collected in selected stores.

(2015, H&M)

Figure 7

Figure 8

Historical Context | 6

Logos: Figure 9, 10, 11, 12, 13 & 14

THE GROUP With a business concept of providing quality products at affordable prices, H&M has established itself as a leading global fashion company. The brand has a definite passion for fashion and are always striving to surpass customer expectations with itâ&#x20AC;&#x2122;s strong values (2015, H&M). Whilst this report focusses on H&M as a sole brand, there are other brands housed within the Hennes & Mauritz AB group, those being: COS, Monki, Weekday, Cheap Monday, & Other Stories as well as H&M itself; the brand in which this report is going to explore (2015, H&M Report).

7 | The Group

Logo: Figure 15

Headquarters - Stockholm, Sweden CEO - Karl-Johan Persson Founded - 1947 (2015, LinkedIn)

H&M as a brand has 3,261 stores in 55 countries as well as 12 countries with the option of online shopping. The H&M stores themselves provide a diverse range of clothing and accessories for women, men, and children (inclusive of teenagers, children and babies). The constantly evolving brand has introduced footwear, cosmetics and a H&M Home range that has a wide range of home textiles and decorative items (2015, H&M).

Different departments within the H&M brand: LADIES • MEN • DIVIDED • KIDS • &DENIM • SPORT • SHOES • ACCESSORIES • UNDERWEAR • COSMETICS • H&M HOME

The Brand | 8

MORE THAN

ONE NAME

Like many companies, H&M adopts a matrix organisation where the Managing Director handles the appointment of the members within the executive management team. This team is responsible for the following: Finance, Accounts, Buying, Sales & Marketing, Production, Sustainability, Expansion, New Business, Brand, Communications, Investor Relations, Human Resources, IT, Logistics and Security. Furthermore, country managers are appointed and have responsibility for all aspects of sales, profitability and the different departments within their country (2015, H&M).

9 | Organisation

Figure 16

When it comes to managing the company affairs on behalf of shareholders, it is the Board of Directors responsibility to ensure that rules and regulations are adhered too. The members are elected by the shareholders at the Annual General Meeting (2015, H&M).

WORKING FOR H&M H&M employs people who make the customer experience enjoyable and relaxed; they take pride in their employees. The H&M workplace is characterised as a place of diversity and big variations. The crossovers between departments mean that within 3000 plus stores, sales advisers are liasing with visual merchandisers, department managers and store managers. H&M as a brand, enjoys building their staff up in ranks, so much

so that most of the managers within the H&M brand are internally sourced, meaning they can effecitvely lead by example (2015, H&M).

LEADERSHIP AT H&M IS ABOUT INSPIRATION, DELEGATION, FEEDBACK AND MOTIVATION. (2015, H&M Report)

Figure 17

10 | Working for H&M

Figure 18, 19 & 20

Quotes: (2015, H&M Report)

BYRON INGLESTON Print and pattern forecaster, White Room, Stockholm

ANNA NOWAK Group leader, H&M Distribution Centre, Poznan, Poland

“There are more than 2,900 of us working here in Gadki outside Poznan, distributing garments for all H&M’s brands and sales channels. Working in logistics calls for precision, flexibility and above all teamwork, so it is both enjoyable and stimulating. ”

BELINDA OFORI-ATTA Sales advisor, Fifth Avenue, New York

“In my team the focus is on the future. H&M’s fashion draws influences from all over the world, and in Trends & Forecast we analyse global trends for upcoming seasons. There is so much to be inspired by, and we are encouraged to use both our creativity and our experience when presenting our research to the teams in the White Room at the design department.”

“Serving our customers here in H&M’s new flagship store in Manhattan is so rewarding. The store is amazing – just coming here every day gives me a kick! Right now I’m training to become a supervisor. My colleagues and I coach each other,”

Working for H&M | 11

INTERNAL

INFLUENCES Within the H&M brand, different departments work together in order to ensure the smooth running of the overall business (1999, The Business Environment). This means that everyone has to talk to everyone! For example, the buyers need to be in constant conversation with finance so they know exactly how much can be spent, the store managers need to be in contact with the delivery team so they know when to expect the next delivery. If there’s any confusion within the internal communication paths then there will be big problems for the organisation and could ultimately lead to it’s downfall. These influences however can be rectified through staff training and strong management from those individuals with a large span of control. In regards to H&M as a brand, an internal influence that will have to be monitored is employee attitude to work especially with sales advisers who in essence are the face of the brand as those are the people who deal with customers on a face to face basis. The employment process at H&M ensures that the correct people are employed, those individuals who embody the brand and can be enthused whilst working. Staff training is provided to every new staff member when starting out at H&M (2015, Indeed)

12 | Internal Influences

Figure 21

Other internal influences that can’t be helped but may affect how smoothly the brand runs includes: maternity leave, staff holidays, illness amongst staff, mis-communication between departments (2015, Jim Makos).

Historical Context | 6

Figure 22

THE WIDER

PICTURE Whilst H&M is an independent brand that functions for itself, it is hugely influenced by the fashion industry as a whole; whatever happens in the fashion industry and furthermore within the global economy has a direct effect on the choices H&M make as a business.

“Changes in the economy and trends in consumer confidence may adversely affect the fashion industry” (2015, BOF) The Fashion Industry is a $1.5 trillion global industry that employs millions of people and provides a substantial con-

tribution to the overal global economy; essentially it is a big deal (2015, BOF). Specifically looking at the high street as a fashion retailing platform, there have been, currently is and will be a continuous evolution of different trends affecting how it behaves in its market. The High Street is under immense pressure from a variety of market trends affecting it’s profitability, future relevance and popularity (2015, KPMG). Research showed that more shops are closing on the high street than those opening, with 2013 seeing 5,839 shops shuttered and only 4,852 open; it is being claimed that the high street is running out of time. (2015, The Guardian).

The Wider Picture | 13

MARKET TRENDS SOCIAL MEDIA BECOMING A SHOPPING PLATFORM Recently, retailers have seen social media being used as not only a platform to speak from but now to shop from (2014, Vend HQ). An example of one of these platforms is ‘Like2Buy’ where customers can buy products through Instagram. The affects something like this may have on the fast fashion/high street market is because it limits the amount of people coming into store to purchase products

physically. It’s also hard to monitor what influences best sellers as customers may click on products based on how it is advertised (ie. wearing a particular outfit). This trend however could allow more people to access particular brands as it can fit into their day to day schedule. It will also allow a more seamless and quicker purchase through the transition from social media to e-commerce (2014, Vend HQ)

Figure 23

E-COMMERCE ENTERING THE PHYSICAL WORLD 2014 saw a lot of e-commerce first a flagship environment in every store in companies open a pop up store in or- order to stand out from the ‘beginners’. der to assess celebrity of the idea. Birchbox opened a physical store in SOHO as research shows that a majority of retail sales are infact taking place offline. Online brands are realising that in order to gain mass market share they need to have a brick and mortar environment (2014, Vend HQ). This would massively impact all retailers , including H&M. If an online fast fashion brand opened a physical Figure 24 & 25 store then it’s creating more competition for H&M. To work around this, existing physical retailers need to create more of

14 | Market Trends

BRANDS MAKING INDIVIDUAL STORES ‘LOCAL’ A trend that is currently proving popular in the Starbucks chain; making each individual store relate to the location it is in and the environment that is emitted from that location (2014, Vend HQ). This makes the retail environment relatable and in a sense exclusive to consumers in that area. Research shows that it is likely that many more retailers will follow suit including those within the fast fashion/high street market. If H&M were to adopt this practice then it would definitely be a big investment of time, money and research as each store needs to have knowledge of the environment and area they’re working with. All visual mer-

chandising will need to be altered to fit with the theme, as well as this, store layout may be shifted. Another aspect to consider is the product being sold at a particular store; if you were to compare a H&M store in a small town in Scotland to a H&M store in a busy part of London then the products sold would significantly change in order to cater for the specific consumer of that area. It would be a big investment however research clearly suggests it is an investment that would hugely benefit the brand (2014, Vend HQ). H&M has in fact experimented with this market trend by opening an “instagram worthy “ shop on Brick Lane (2015, Mintel).

BRANDS ARE ENGAGING WITH TECHNOLOGY As the technological world evolves, retailers are looking at ways in which they can keep up with demands from the tech-savvy consumer. The success of this would streamline the gap between the technological world and the physical retail world. Some of these engagements include scrapping old fashioned point of sale equipment such as a cash register. Apple is a brand that has scrapped the old fashioned ‘till’ and it fully correlates with the brand image. Research infers that if H&M want to continue engaging in a contemporary way then this may be a good move on their part (2014, Vend HQ). Research has also shown that currently 7% of consumers own wearable gadgets in the form of smart watches, glasses and fitness equipment (2014, Vend HQ) . If H&M adopted the idea of having staff using wearable gadgets then the researcher suggests it would penalise a portion of the H&M consumer. as it doesn’t just cater to an audience that

may have knowledge of technological advances. Also, it would break down the staff to customer relationship instore as technology often builds a wall between individuals ; it is a questionable debate as do consumers really want to rely on a piece of tepremental equipment? Research has shown that 47% of shoppers (out of 50) would prefer to have physical retail encounters with a staff member without the inteference of unnecessary technology (Researchers Own).

Figure 26

Market Trends | 15

PORTERS

FORCES

1. 2.

RIVALRY AMONGST COMPETITORS H&M as a fast fashion retailer is always faced with rivalry between competitors, ultimately they all want to be top dog within the market. In order to refrain from being majorly affected by rivalry from competitors H&M have curated elements within their brand that make them stand out: concious collection, designer collaborations.

THREAT OF NEW ENTRANTS The UK apparel industry doesnâ&#x20AC;&#x2122;t necessarily come with restrictions, in essence it is an easy industry to get into; opening an online shop is now easier than ever before meaning that in terms of product, yes H&M do face a threat from new entrants. They would be affected heavily if succesful online brands were to open physical stores. (such as ASOS, Boohoo, Missguided). H&M could also overcome the threat of new entrants by the fact that they are an established brand that has a strong customer following who may have brand loyalty. New entrants are faced with the fact that they are beginners so need to build a strong reputation.

16 | Five Forces

3. 4. 5.

BARGAINING POWER OF SUPPLIERS The researcher has found that since the Rana Plaza disaster, there has been heightened demands from the suppliers in order to get a safe working life (2014, InstitueLabourRights). If the supplier to H&M refuses to supply the product H&M want then it can affect H&M lead times which in the end will not give customers what they want. There are many reasons why suppliers may refuse to provide the product: pay isn’t good enough, working conditons aren’t monitored well enough (2012, My Distribution Law). In 2014, H&M had 785 suppliers and 1,013 subcontracted suppliers (2015, H&M), if the suppliers decided to overpower the brand and demand new needs then H&M would have no choice but to comply. BARGAINING POWER OF BUYERS A customer can easily be classed as the spokesperson for a brand, they can complain about the price and quality of a product and ultimately change how the business operates. If customers don’t like the price of something then they aren’t going to buy it, worst case scenario could see the bargaining power of buyers make a business defunct. H&M have provided consumers with a range that comprises of extremely affordable products that are a need rather than a want, this diffrentiates them from competing brands like Zara.

THREAT OF SUBSTITUTE PRODUCTS H&M are always faced with the ideas of customers going elsewhere to buy the same product. Market trends such as the economy and furthermore the recession made people hold on to their money and spend little of it; this may have given people no choice but to visit cheaper stores such as Primark where they can get similar products for a cheaper price. Again, the basic brand that H&M introduced allows them to keep some of the market share when it comes to cheap but cheerful clothing.

Five Forces | 17

EXTERNAL

INFLUENCES This report has spoken about the internal influences that can affect H&M however there are many external influences that can disturb the framework of the organisation of the brand. Some of these influences arenâ&#x20AC;&#x2122;t necesarily a particular persons fault, but need to be addressed nevertheless. The external influences that are going to be discussed comprise of the PESTLE analysis: Political, Economic, Social, Technological, Legal & Environmental.

18 | PESTLE

POLITICAL H&M have no choice but to comply with political issues and inforced regulations. As H&M source from the far east then it is no surprise that whatever is being transported will have to comply with custom duties. If the government introduce a new tax then the brand has to operate under those laws. Recently in the UK, a new law has been brought out that means big companies need to charge 5p for plastic bags (2015, Gov UK). Looking specifically at the impact this may have on H&M is that the brand could be faced with annoyed customers who donâ&#x20AC;&#x2122;t want to pay for a bag; the frustration may be taken out on the brand even though it is not a fault on their behalf.

ECONOMIC H&M have to monitor the economic climate in order to predict what they can do in the future. Inflation, deflation, supply and demand are all factors that all organisations need to take into consideration. If there was to be a rise in the inflation rate then H&M would need to alter the price of their products otherwise they may make a loss or just break even. As well as this, the purchasing power of consumers would differ as consumers may not be able to afford to indulge in a shoppng spree and instead go where they can afford (as mentioned in Porters 5 Forces). Luckily H&M werenâ&#x20AC;&#x2122;t as badly affected by the recent recession (2009, Kerry Capell).

SOCIAL These factors are affected by the population and are determined by cultural trends, demographics and population analyticals. In current times those over 50 make up over 35% of the population and also have the most disposable income therefore making them a very profitable target audience (2013, Marketing Magazine). This trend will influence the way H&M may market in order to reach that older audience. Other factors may include religious and cultutral backgrounds as the demand for certain products differ dependent on what the majoritable population are demanding in that particular area.

PESTLE | 19

TECHNOLOGICAL With the release of more advanced technology including phones and tablets, brands are having to alter their marketing mix in order to keep up with the times. Apps are more popular and accesible than ever and many brands are incorporating an app into their brand, not only apps but also social media (2014, The Guardian); luxury brand Burbery set up a snapchat and used it to reveal their SS16 collection to the public. London Fashion Week has given the mass audience the opportunity to see new collections by providing a live stream, this factor can provide the consumers with knowledge on upcoming trends- it puts more pressure on the brand, H&M has succesfuly incorporated technology into it’s brand by testing it in it’s New York store; theres a feature in the changing room that allows customers to pay for products in there as well as interactive mannequins and a virtual runway that could project onto a billboard in Times Square (2015, Retail Innovation). LEGAL Legal laws that need to be complied with on H&M’s part may include consumer laws, safety standards and labor laws. These are external influences however they are heavily monitored internally, this is something that affects everything from sourcing fabric for clothes to how staff are treated in any one store. If H&M fail to comply with the legal requirements that are required of them then they could face prosecution. H&M were recently under fire and fined for failing to pay some of their staff the required minimum wage, although it didn’t tarnish the brand name completely it did create some bad press around the brand (2015, BBC News)

20 | PESTLE

Figure 27

ENVIRONMENTAL This factor is based on influences that are out of control from anyone else, such as: weather, geographical location, climate change and natural disasters. H&M can’t control or predict what the weather will be like in the future, it’s unpredictable and this could alter lead times and put a hold on stock arriving. As only 1% of imports to the UK are transported via air there was no immediate short term impact on H&M however if the consequences had been any longer or severe then it could of damaged the economy further, especially after just coming out of a recession (2010, BBC News). Another aspect H&M should consider when thinking about produce is the climate in which they are delivering too, a store in Spain will require different stock from a store that may be in the north of England simply due to the fact that they experience different climates; Spain wouldn’t need a large line of winter stock.

Historical Context | 6

Previous Page: Figure 28

WHERE DO H&M STAND?

Whilst H&M stick to their guns in the middle ground and are curating success through their brand ethos: “Fashion and quality at the best price” (2011, The Independent) they are always in comparison with other brands. Within the high street market, H&M are at the “most desirably placed when considering price, quality and fashionable appeal” (Researchers Own).

In the highly segmented world of fast fashion retailing, H&M have a 21% hold within a street fashion analysis of brands that are worn most within a selected consumer outreach. Zara, the market leader within this market have a 24% hold whilst Primark, the market follower has a 5% hold (2011, Chicisimo).

Fashion

ZARA TOPSHOP H&M FOREVER 21

GAP Fashion Price -

Price + Graph: Researchers Own

23 | Positioning

Figure 29, 30 & 31

COMPETITION Forever 21 are direct competitors for H&M as they sell similar products at a similar price point. The advantage H&M does have over Forever 21 is that H&M has a more established customer base in other departments outside of womenswear: kidswear, menswear, homeware. When conducting research only 20% of those asked preferred to shop at Forever 21 rather than H&M (Researchers Own). Topshop is another direct competitor that has a large hold within the fast fashion market share, 51% of those asked in a survey said theyâ&#x20AC;&#x2122;d rather shop at Topshop than H&M and when asked why said that it has a more prestige reputation than H&M and although some pieces are affordable, it comes across as a more expensive brand (Researchers Own). Topshop have quite cleverly given themselves a luxury platform through their LFW slots which makes them stand out. H&M howver are noticing this and doing the same thing.

GAP is a questionable competitor because whilst they sell similar lines, the trends within this brand are indirectly competing with H&M. GAP has very publicly been neglected by consumers in the past few years due to it not having a niche or anything that makes it stand out. When conducting a survey, nobody said they would rather shop at GAP over H&M (Researchers Own).

Competition | 24

STRENGTHS * Affordable yet fashionable clothing that has a large consumer outreach * Location of stores is good and wide spread, specifics of where a store is positioned within the city/town it occupies is also very good and well thought out * A very strong brand image, an audience can easily identify with what is part of the H&M brand. Also, a very recognisable brand logo (2013, Jakub Jarlaczyka) * The marketing of the brand is done to a high standard, the brand has a good marketing mix and formula for the objectives set * Has a good turnaround for ‘fast fashion’: 12 weeks * Has a known good relationship with suppliers (2015, Majella Shields)

WEAKNESSES * The suppliers to the brand are based in the far east which is always a tepremental issue as deliveries can be severley affected by an array of influences that can’t necessarily be helped: weather, breakdown of transportation vehicles * The shoe range hasn’t been as succesful as the clothing range within the H&M brand, there isn’t as much focus on this particular range * Beauty/Cosmetics is also a range that is slightly neglected in favour of the more succesful and long running ranges * Research has shows that some consumers are sometimes buying different sizes as the consistency in sizes through different lines within H&M is off (Researchers Own) (2015, Majella Shields)

25 | SWOT

OPPORTUNITIES * H&M have the opportunity to expand on their online presence and add more to their online world, possibly experiment with the already discussed Like2Buy through Instagram (2015, Majella Shields) * As the blogging and youtubing world is growing, H&M could use this as a new platform to reach more customers (blogger partnerships) * A UK based distributing centre would give more efficient and quicker lead times when it comes to distributing to stores * In terms with what is happening in other industries, the fitness industry is experiencing a boom therefore H&M can use this to produce new lines and ranges (2015, Health Club Management)

THREATS * A recurring threat for every industry is competition amongst the market * The unpredictable swings in the market and external influences (that will be discussed later on in the report) * The rising labor costs in countries where produce is being sourced, such as China, India and Bangladesh (2015, Majella Shields) * Fashion is something that is always changing and evolving therefore it could be easy to miss a trend and quickly become old fashioned. All departments at H&M have to be on the ball as the brand can’t afford to be portrayed as a brand that’s not ‘up to scratch’, they could lose money and creditability * A threat on the physical H&M store is that more and more people are shopping online and neglecting the experience of shopping in a brick and mortar establishment (2008, Stuart Turton)

SWOT | 26

BOSTON MATRIX This Boston Matrix is going to assess the positioning of different departments within the H&M brand.

PROBLEM CHILD

STARS

MENSWEAR

WOMENSWEAR

DOG

CASH COW

COSMETICS

CHILDRENSWEAR

27 | Boston Matrix

Figure 32

The problem child at H&M would be the menswear as it is a noted department for H&M however not enough attention is put onto it. The star would be the womenswear line as it is very popular and is the most recognised department for the brand (Researchers Own). The Dog would be the cosmetics line as this line isnâ&#x20AC;&#x2122;t doing as well for H&M and the cash cow would be the childrenswear as it has a good stance in the store however isnâ&#x20AC;&#x2122;t ackhnowledged within the market share.

Historical Context | 6

Logos: Figure 33 & 34

BENCHMARKING

VS Zara is the flagship brand of the group Inditex and currently has more than 2000 stores across the world. It is number 58 on the worlds most valuable brands (2015, Forbes). Within the fast fashion market, Zara is the market leader and is the most succesful as it holds a bigger segment than the other brands, including H&M. In direct comparison both brands logos are effective as they are both simple and arenâ&#x20AC;&#x2122;t oldfashioned, they have the same affect as the Chanel logo (they dont age). Zara and H&M are often within metres of eachother in the physical retail world and in individual areas they are seen to mimic eachothersâ&#x20AC;&#x2122; strategies when it comes to visual merchandising and marketing, they usually change their window displays around the same time.

29 | Benchmarking

PRODUCT Figure 35

Whilst H&M take a back seat when it comes to menswear, Zara have a more even product approach which pays off as their menswear line is very succesful . H&M could invest more money and research into their menswear line in order to sample some of this success and take over a larger share in the market. This difference suggests that Zara have more confidence in their consumer outreach and their consumer may be a different demographic in comparison with H&Mâ&#x20AC;&#x2122;s consumer outreach; the Zara consumer is someone who would shop for their family whereas the majoritable consumer at H&M shops solely for womenswear (2015, Edited).

Benchmarking | 30

Figure 36 & 37

WEBSITE

Both websites are similar in the fact that they have their logo very small, this may be because they rely on the content of the pages to portray the brand image. Both work succesfully as without looking at the logo, the researcher can determine what brand it is. Both sites are given a Google PageRank of 6 out of 10 (2015, Knoji). The website is something that H&M donâ&#x20AC;&#x2122;t necesarily have to change because it is doing itâ&#x20AC;&#x2122;s job and representing the brand well. 31 | Benchmarking

Social Media Icons: Figure 38, 39, 40 & 41

SOCIAL MEDIA

Zara Social Media Stats Instagram: 7.1 milllion followers Twitter: 1.04 million followers Facebook: 23,379,813 likes Pinterest: 165.7k followers

H&M Social Media Stats Instagram: 7.1 milllion followers Twitter: 7.05 million followers Facebook: 24,629,789 likes Pinterest: 176.6k followers

H&M has an overall higher celebrity through social media so it isnâ&#x20AC;&#x2122;t this element that is necesarily making Zara the stronger brand. A factor that may make H&M more popular through social media is the conctant collaboratons with celebrities and style icons, it also uses a more accesible and popular array of hashtags that aid in the development of itâ&#x20AC;&#x2122;s following. Research told the report that people thought that Zaraâ&#x20AC;&#x2122;s success comes from the clasic brand image associated with it (Researchers Own).

COMMUNICATION Whilst H&M are bold and enthusiastic in their approach to communicating with the audience, Zara are more minimalistic. H&M use famous designer/celebrity collaborations in order to gain a sense of momentum for the brand which draws in a pariticular consumer/target audience. If they wanted to target specifically a working class professional then using Zaras approach may work; this being collaborating with professionals such as fashion consultants (Zara have used Taylor Tomasi Hill and Yasmin Sewell) (2015, Edited).

Benchmarking | 32

Figure 42

THE H&M CUSTOMER H&M has a varying consumer and targets women, men and children of all ages. The predominant customer found in the H&M store is female, aged between 15 - 35, the consumers however stll remain from different demographics. After conducting the appropriate primary research via surveys, the customer most associated with shopping in H&M is a young stylish female looking for trendy clothing and accesories. She may be looking to stand out from the crowd however still wants to stay on trend so experiments with the trends that are fresh off the runway. The customer will most likely live in a busy city surrounded by inspiration that influences her choice in clothing. In terms with what this customer does with her day to day life, itâ&#x20AC;&#x2122;s most common to see her in university or starting from the bottom of a business, this then leaves the customer looking for stylish yet affordable clothing which H&M provides (Researchers Own).

35 | The H&M Customer

PEN PORTRAIT.

Based on collated research of most recognised H&M consumer.

Images courtesy of Polyvore

The H&M Customer | 36

MARKETING ADVERTISING H&M advertise in a variety of ways including through TV ads, online advertisements and billboards (still and moving). The brands advertising techniques are efficient in driving traffic to the purchase of a H&M product. The advertisements are often eye catching and updated to feature the current brand highlight.

Figure 43

EVENTS H&M hold an event during fashion week in order to market the products within the brand, following in the footsteps of Topshop. However this isnâ&#x20AC;&#x2122;t the only event that the brand puts on. When new stores open, H&M often throw a launch party that works in collaboration with musicians and allows the customers to feel like theyâ&#x20AC;&#x2122;re at a prestige event, one of these events includes the H&M Shopping Party that was held for a refurbished shop in Liverpool (2007, Think Publicity).

37 | Marketing

CAMPAIGNS H&M are well known for their celebrity/designer collaborations, they are highly anticipated and succesfully recieved providing the brand with a lot of celebrity and financial success. Some of the designer collaborations through the years include: Karl Lagerfeld, Lanvin, Stella McCartney, Versace, Alexander Wang and the upcoming BalmainxH&M collaboration. Not only does the brand collabaorate with fashion houses but also celebrity icons such as Madonna, David Beckham and Beyonce. The names featured in the collaboration just emphasises the brand reputation and creditability.

Figure 44

SOCIAL MEDIA Of course, social media plays a really big part in the marketing approach H&M use. They are frequently posting on their social media platforms such as Instagram, Twitter and Facebook. The brands posts on these platforms include style advice, notification of upcoming events or collaborations and direct links to buy products from the site.

Marketing | 38

COLLATING

CUSTOMER DATA H&M are always in talks with their followers through their social media platforms and complaints and feedback is often filtered through this, this is a quick and efficient way for them to communicate with their staff especially if they invest staff into it; a lot more people are using social media in todays world, H&M said the following: â&#x20AC;&#x153;millions of H&M fans and followers share ideas and opinions and get quick answers to their queries [through social media]â&#x20AC;&#x153; (2015, Econsultancy)Another way H&M collate customer data is through their website where customers have the option to subscribe to emails, unlike other sites, customers only need to input their email addresses to be up to date with the latest from H&M; a 25% off offer is given to customers if they subscribe via email which engages the audience and therefore makes them more inclined to subscribe.

Figure 45

Collating Customer Data | 40

ETHICS &

SUSTAINABILITY H&M have been gifted the title of retail home for ethics (2012, Lucy Siegle) and that is no different to the sustainability elements of the brand. H&M are often faced with backlash as when conducting primary research, people wondered “how can they be a fast fashion retailer yet source ethically and in a sustainable manner?” (Researchers Own). In 2011 alone, 2.5 million pairs of shoes were made using water-based solvents that had a lower impact, the demand for a sustainble production manner is more apparnet than ever. H&M have vowed to use 100% organic cotton by 2020 (2012, The Guardian). Cotton isn’t the only element of the H&M brand that is claimed to be sustainable, H&M work extremely hard in in all aspects of the brand in order to maintain their sustainable and ethical reputation.

Figure 46

‘H&M Consious’ is the pledge taken by H&M in order to fulfill their outlined commitments which are: “Provide fashion for conscious customers, choose and reward responsible partners, be ethical, be climate smart, reduce, reuse, recycle, use natural resources responsibly and strengthen communities” (2015, H&M).

“At H&M, we have set ourselves the challenge of ultimately making fashion sustainable and sustainability fashionable” (2015, Karl-Johan Persson) In regards to where H&M stand on an ethical stance, they really care about the people working for them including suppliers; they regularly monitor the working conditions of those making the products and ensure they are cooperating with trading laws and fair wages for employers; they pride themselves on creating a sustained relationship with the brand’s partners (2015, H&M). Recently H&M have been in the news because of the decision to feature it’s first ever Muslim model wearing a headscarf in it’s campaign. The decision and campaign was recieved with applause from the audience as it was thought to really consider the cultural diversity in the UK in contemporary times (2015, Fortune).

Ethics & Sustainability | 42

WHAT NEXT? In terms of what the researcher thinks the brand could do next in order to adapt and furthermore hold a larger share within this particular market, it is suggested that H&M invest into a more developed personal stylist element as competitor Topshop does. This would make the gap between consumer and brand more streamlined; a consumer could feel part of the brand when experiencing this instead of just a customer buying a product. This personal stylist element could be carried through to the online site, where an online team could be introduced to provide a live chat on the site; not only would it advance the site in the technological world, it would also bridge the gap between the online and offline world; the brand would become more interactive with its audience. Another point that the researcher suggests that H&M should consider is to invest heavily in the menswear department as market leader Zara does, this could involve stand alone menswear stores; these stores could incorporate celebrity campaigns solely for the menswear line in order to gain momentum. This would allow H&M to hold a larger market share in the high street fast fashion market.

43 | What Next?

Figure 47

Benchmarking | 30

29 | Benchmarking

Figure 48

CONCLUSION To conclude this report, H&M is a well established brand that has a secure and loyal customer following that has remained consistent since it was founded in 1947. The brand is positioned well in a highly competitive market, only falling second in ranks behind Zara the high street market leader. H&M have a strong internal organisation and whilst they employ many staff they continue to employ managers and senior members of staff on an internal basis; in regards to the internal affairs of H&M, the researcher spoke of many factors that could influence the brand, from staff training to lack of credible communication. Externally H&M have to face the force of many forces including those that are political, economical, social, technologocial, legal and environmental; tackling these is something H&M do a high standard. Whilst considering the brands marketing methods, it can be inferred that H&Mâ&#x20AC;&#x2122;s marketing decisions are efficient in creating brand awareness and they are using the correct tools, such as billboards, online advertisements and through events. Many things are presented to the brand that could potentially aid in the brand becoming defunct, things such as market trends and the power of the customer are all imposed on the brand however it still ensures it is a reputable competitor to other brands with evidence from its ranking of number 86 on the Forbes most innovative companies list (2015, Forbes).

Conclusion | 45

REFERENCES Front Cover, Contents & Executive Summary Figure 1: Vogue. 2014. H&M-Spring/Summer. [ONLINE] Available at: http://www.vogue. co.uk/fashion/spring-summer-2014/ready-to-wear/h-m. [Accessed 30 October 15] Figure 2: H&M, (2015), H&M [ONLINE]. Available at: http://vectorlogo4u.com/hm-logo-vector/ [Accessed 30 October 15] Figure 3: H&M, (2015), H&M Coachella [ONLINE]. Available at: http://assets-prod.harpersbazaar.co.uk/fashion/news-2/coachellahm/5065_21.jpg [Accessed 30 October 15] Figure 4: H&M, (2015), H&M Coachella [ONLINE]. Available at: http://media2.popsugar-assets.com/files/2015/01/13/845/n/1922564/53419f3c_thumb.xxxlarge.jpg [Accessed 30 October 15] Historical Context H&M. 2015. About H&M. [ONLINE] Available at: http://about.hm.com/en/About/factsabout-hm/people-and-history/history.html. [Accessed 14 October 15] Figure 5: H&M, (2004), KarlxH&M [ONLINE]. Available at: http://prestige-singapore.com. sg/sites/default/files/styles/slideshow/public/articles/2013/09/Karl%20Lagerfeld%20x%20 H%26M.jpg?itok=zPGyFBJX [Accessed 27 October 15] Figure 6: H&M, (2007), Hennes & Mauritz [ONLINE]. Available at: https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSnMgx083HT9fbpEybIiifpm6AEOWCkU2EcvRV5Sy4ok4sTmT3O5A [Accessed 27 October 15] Figure 7: H&M, (2009), H&M Tokyo [ONLINE]. Available at: http://tokyofashion.com/ wp-content/uploads/2009/09/H-and-M-Shibuya-Opening-09-2009-001-b.jpg [Accessed 27 October 15] Figure 8: H&M, (2015), H&M Home [ONLINE]. Available at: http://www.hm.com/gb/department/HOME [Accessed 15 October 15] The H&M Group H&M, (2015), About H&M [ONLINE]. Available at: http://about.hm.com/en/About/factsabout-hm/about-hm/hm-group.html [Accessed 13 October 15] H&M. 2015. Annual Report. [PDF] Available at:http://about.hm.com/content/dam/hm/ about/documents/en/Annual%20Report/Annual%20Report%202014_en.pdf. [Accessed 22 October 15] Figure 9, 10, 11, 12, 13 & 14: H&M. 2015. Annual Report. [PDF] Available at:http:// about.hm.com/content/dam/hm/about/documents/en/Annual%20Report/Annual%20Report%202014_en.pdf. [Accessed 22 October 15]

The H&M Brand Figure 15: H&M, (2015), H&M [ONLINE]. Available at: http://vectorlogo4u.com/hm-logo-vector/ [Accessed 30 October 15] LinkedIn. 2015. LinkedIn. [ONLINE] Available at: https://www.linkedin.com/company/h&m. [Accessed 19 October 15] H&M. 2015. Annual Report. [PDF] Available at:http://about.hm.com/content/dam/hm/ about/documents/en/Annual%20Report/Annual%20Report%202014_en.pdf. [Accessed 12 October 15] More Than One Name H&M. 2015. H&M Board Of Directors. [ONLINE] Available at: http://about.hm.com/en/ About/Corporate-Governance/Organisation/Board-of-Directors.html. [Accessed 19 October 15] Figure 16: Anon., (2012), . [ONLINE]. Available at: https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcStJ-fNP2AkOWaJ7OjuiveTGvImEYEsh3qq9j7xcb_QtnubXtH25wm7fA [Accessed 19 October 15] Working for H&M H&M. 2015. Annual Report. [PDF] Available at:http://about.hm.com/content/dam/hm/ about/documents/en/Annual%20Report/Annual%20Report%202014_en.pdf. [Accessed 18 October 15] Figure 17, 18, 19 & 20: H&M. 2015. Annual Report. [PDF] Available at:http://about. hm.com/content/dam/hm/about/documents/en/Annual%20Report/Annual%20Report%20 2014_en.pdf. [Accessed 24 October 15] Internal Influences Worthington, I, 1999. The Business Environment. 2nd ed. n.a: Pearson. Indeed. 2015. Indeed. [ONLINE] Available at: http://www.indeed.co.uk/cmp/H&M/reviews?fcountry=GB&start=20. [Accessed 04 November 15] Jim Makos. 2015. Internal Factors that May Affect the Business Organization. [ONLINE] Available at:http://pestleanalysis.com/internal-factors-affect-business-organization/. [Accessed 01 November 15] Figure 21: H&M, (2013), H&M Home [ONLINE]. Available at: http://www.skimbacolifestyle. com/wp-content/uploads/2013/11/hh-home-vintage.jpg [Accessed 31 October 15] Figure 22: H&M, (2015), H&MxDavidBeckham [ONLINE]. Available at: https://www. hm.com/gb/modern-essentials-selected-by-david-beckham [Accessed 26 October 15]

The Wider Picture BOF. 2013. Letâ&#x20AC;&#x2122;s Show the World that Fashion is Serious Business. [ONLINE] Available at:http://www.businessoffashion.com/articles/editors-letter/lets-show-the-world-that-fashion-is-serious-business. [Accessed 16 October 15] KPMG. 2013. How will demographic trends affect the retail sector? . [ONLINE] Available at: http://www.kpmg.com/uk/en/issuesandinsights/articlespublications/newsreleases/pages/ how-will-demographic-trends-in-the-uk-affect-the-retail-sector.aspx. [Accessed 17 October 15] The Guardian. 2015. UK high streets running out of time as more shops close than new ones open. [ONLINE] Available at: http://www.theguardian.com/business/2015/mar/16/ukhigh-streets-more-shops-close-than-open-net-closures. [Accessed 17 October 15] Market Trends Figure 23, 24 & 25: Vend HQ. 2014. 12 Retail Trends and Predictions for 2015.. [ONLINE] Available at:https://www.vendhq.com/university/retail-trends-and-predictions-2015. [Accessed 17 October 15] Vend HQ. 2014. 12 Retail Trends and Predictions for 2015.. [ONLINE] Available at:https:// www.vendhq.com/university/retail-trends-and-predictions-2015. [Accessed 17 October 15] Mintel. 2015. Mintel. [ONLINE] Available at: http://academic.mintel.com/display/746277/?highlight. [Accessed 20 October 15] Porters 5 Forces Global Labour Rights. 2014. Rana Plaza: A look back, and forward. [ONLINE] Available at:http://www.globallabourrights.org/alerts/rana-plaza-bangladesh-anniversary-a-look-back-and-forward. [Accessed 11 October 15] My Distribution Law. 2012. Can My Supplier Refuse To Supply Me. [ONLINE] Available at:http://www.mydistributionlaw.com/2012/02/can-my-supplier-refuse-to-sell-productsto-me/. [Accessed 14 October 15] H&M. 2015. H&M Sustainability. [ONLINE] Available at:http://sustainability.hm.com/en/sustainability/commitments/choose-and-reward-responsible-partners/about.html. [Accessed 13 October 15] External Influences Gov UK. 2015. 5p Carrier Bag Charge. [ONLINE] Available at:https://www.gov.uk/government/publications/single-use-plastic-carrier-bags-why-were-introducing-the-charge/ carrier-bags-why-theres-a-5p-charge#when-youre-not-charged-for-a-bag. [Accessed 17 October 15] Kerry Capell. 2009. H&M Stays Upbeat in Tough Times. [ONLINE] Available at:http://www. businessweek.com/globalbiz/content/jul2009/gb2009071_332385.htm. [Accessed 21 October 15] Marketing Magazine. 2013. The Unstoppables: How brands can engage with the over-50s. [ONLINE] Available at: http://www.marketingmagazine.co.uk/article/1194290/unstoppables-brands-engage-over-50s. [Accessed 21 October 15]

Retail Innovation. nd. Pay in the changing room at H&M’s new tech rich Times Square store. [ONLINE] Available at: http://retail-innovation.com/pay-in-the-changing-room-at-hmsnew-tech-rich-times-square-store/. [Accessed 13 October 15] BBC. 2015. Minimum wage: 37 firms named for failing to pay rate. [ONLINE] Available at:http://www.bbc.co.uk/news/business-30822565. [Accessed 20 October 15] BBC. 2010. Iceland volcano cloud: The economic impact. [ONLINE] Available at:http:// news.bbc.co.uk/1/hi/8629623.stm. [Accessed 02 November 15] Figure 27: H&M, (nd), Male Coachella [ONLINE]. Available at: https://s-media-cache-ak0. pinimg.com/736x/23/1c/d4/231cd48d18679fa16e2869cc804c6c0c.jpg [Accessed 22 October 15] Figure 28: H&M, (2015), H&M Studio A/W [ONLINE]. Available at: http://www.hm.com/ gb/hm-studio-aw15[Accessed 31 October 15]

Where do H&M Stand? The Independent. 2011. Swede shop: How do H&M stay on top?. [ONLINE] Available at:http://www.independent.co.uk/life-style/fashion/features/swede-shop-how-do-hm-stayon-top-2026039.html. [Accessed 03 November 15] Chicisimo, (2011), Brands people wear more often [ONLINE]. Available at:http://www. internet2share.com/wp-content/uploads/2012/11/BrandsFeb2011.jpg [Accessed 02 November 15]

Competition Figure 29: Forever 21, (nd), Forever 21 Logo [ONLINE]. Available at:http://estaticos.telva. com/imagenes/2014/12/10/moda/1418202667_10.jpg [Accessed 02 November 15] Figure 30: Topshop, (nd), Topshop Logo [ONLINE]. Available at: https://encrypted-tbn3. gstatic.com/images?q=tbn:ANd9GcRJx0Ltmbl-9Jg9G_asVPkZwB8bnD9MHLf7qzXAs6p52kLmerplYA [Accessed 02 November 15] Figure 31: GAP, (nd), GAP Logo [ONLINE]. Available at: http://wallstcheatsheet.com/ wp-content/uploads/2010/08/gap.jpg [Accessed 02 November 15] SWOT Jakub Jarlaczyk. 2013. H&M SWOT analysis, Porter’s Five Forces, PESTEL analysis. [ONLINE] Available at: https://prezi.com/mxiig3xyfs-e/hm-swot-analysis-porters-five-forces-pestel-analysis/. [Accessed 04 November 15] Majella Shields. 2015. H&M SWOT Analysis. [ONLINE] Available at: https://prezi.com/9wfaiujcjsa3/hm-swot-analysis/. [Accessed 04 November 15]

Health Club Management. 2015. SOFI 2015 report: More gyms, more members, more money - See more at: http://www.healthclubmanagement.co.uk/detail.cfm?pagetype=detail&subject=news&codeID=316479#sthash.n9MPG1ex.dpuf. [ONLINE] Available at:http://www.healthclubmanagement.co.uk/detail.cfm?pagetype=detail&subject=news&codeID=316479. [Accessed 03 November 15] Stuart Turton. 2008. 85% of world’s population shopping online. [ONLINE] Available at:http://www.alphr.com/news/internet/160155/85-of-worlds-population-shopping-online. [Accessed 03 November 15] Figure 32: VersacexH&M, (2012), VersacexH&M [ONLINE]. Available at:https://booclothing.files.wordpress.com/2012/02/daphne_groeneveld_versace_for_hm_campaign-3.jpg[Accessed 02 November 15] Benchmarking Figure 33: H&M, (nd), H&M Logo [ONLINE]. Available at: https://s-media-cache-ak0.pinimg.com/736x/4a/13/54/4a1354dcc9b06ab5ed64a02e4914bdb4.jpg [Accessed 02 November 15] Figure 34: Zara, (2012), ZARA Logo [ONLINE]. Available at: http://dtkmen.com/wp-content/uploads/2015/05/zara-logo1.jpg [Accessed 02 November 15] Forbes. 2015. The World’s Most Innovative Companies. [ONLINE] Available at:http://www. forbes.com/companies/hm/. [Accessed 04 November 15] Figure 35: unknown, (2014), ZARA vs H&M Segmentation [ONLINE]. Available at: https:// edited.com/blog/wp-content/uploads/2014/04/EDITD-Zara-HM-segmentation-analysis1. jpg [Accessed 02 November 15] Figure 36: H&M, (2015), H&M Website [ONLINE]. Available at: http://www.hm.com/gb/ [Accessed 02 November 15] Figure 37: ZARA, (2015), Zara Website [ONLINE]. Available at: http://www.zara.com/uk/ [Accessed 02 November 15] Edited. 2014. Zara vs H&M – who’s in the global lead?. [ONLINE] Available at:https://edited.com/blog/2014/04/zara-vs-hm-whos-in-the-global-lead/. [Accessed 03 November 15] Knoji. 2015. H&M vs. Zara: Side-by-side Comparison. [ONLINE] Available at:https://hm. knoji.com/compare-vs/zara. [Accessed 03 November 15] Figure 38: Instagram, (2015), Instagram Logo [ONLINE]. Available at: http://www.instagram.com [Accessed 02 November 15] Figure 39: Twitter, (2015), Twitter Logo [ONLINE]. Available at: http://www.twitter.com [Accessed 02 November 15]

Figure 40: Pinterest, (2015), Pinterest Logo [ONLINE]. Available at: http://www.pinterest. com [Accessed 02 November 15] Figure 41: Facebook, (2015), Facebook Logo [ONLINE]. Available at: http://www.facebook. com [Accessed 02 November 15] Edited. 2014. Zara vs H&M – who’s in the global lead?. [ONLINE] Available at:https://edited.com/blog/2014/04/zara-vs-hm-whos-in-the-global-lead/. [Accessed 03 November 15] Figure 42: BalmainxH&M, (2015), BalmainxH&M [ONLINE]. Available at: http://www. styledbyluc.com/wp-content/uploads/2015/10/HM-Teaming-Up-With-Balmain-3.jpg [Accessed 02 November 15] Marketing Figure 43: Unknown, (2015), David Beckham Billboard [ONLINE]. Available at: http://3. bp.blogspot.com/-khtE_QGITT8/UC7LDK41KAI/AAAAAAAAwyE/y2NxdvtnSvY/s1600/davidbeckham+HM+billboard.jpg[Accessed 02 November 15] Think Publicity. 2007. H&M SHOPPING PARTY. [ONLINE] Available at:http://www.thinkpublicity.co.uk/work/fashion/hm-shopping-party.html. [Accessed 04 November 15] Figure 44: Unknown, (2013), BeyoncexH&M [ONLINE]. Available at:http://www.slate.com/ content/dam/slate/blogs/browbeat/2013/04/25/beyoncehm.jpg.CROP.article568-large. jpg [Accessed 02 November 15] Figure 45: Unknown, (2011), VersacexH&M [ONLINE]. Available at: http://image.thefashionisto.com/wp-content/uploads/2011/11/milos4.jpg [Accessed 02 November 15] Collating Customer Data EConsultancy. 2013. How H&M uses Facebook, Twitter, Pinterest and Google+. [ONLINE] Available at:https://econsultancy.com/blog/62450-how-h-m-uses-facebook-twitter-pinterest-and-google/. [Accessed 03 November 15] Figure 46: H&M, (2015), Islam Fashion [ONLINE]. Available at: http://static.independent. co.uk/s3fs-public/styles/story_large/public/thumbnails/image/2015/09/26/13/Islamfashion.jpg [Accessed 02 November 15] Ethics and Sustainability Lucy Siegle, The Guardian. 2012. Is H&M the new home of ethical fashion?. [ONLINE] Available at:http://www.theguardian.com/business/2012/apr/07/hennes-mauritz-h-and-m. [Accessed 03 November 15]

Lucy Siegle, The Guardian. 2012. Is H&M the new home of ethical fashion?. [ONLINE] Available at:http://www.theguardian.com/business/2012/apr/07/hennes-mauritz-h-and-m. [Accessed 03 November 15] H&M. 2015. About H&M Conscious. [ONLINE] Available at:http://about.hm.com/en/ About/sustainability/hm-conscious/conscious.html. [Accessed 03 November 15]. H&M. 2015. Working conditions in production countries. [ONLINE] Available at:http:// about.hm.com/en/About/sustainability/commitments/responsible-partners/working-conditions.html. [Accessed 03 November 15] FORTUNE. 2015. H&Mâ&#x20AC;&#x2122;s newest ad campaign features a model wearing a hijab. [ONLINE] Available at:http://fortune.com/2015/09/29/hms-newest-ad-campaign-features-a-modelwearing-a-hijab/. [Accessed 05 November 15] Figure 47: H&M, (2013), Toni H&M [ONLINE]. Available at: http://www.fashiongonerogue. com/wp-content/uploads/2013/07/toni-hm1.jpg [Accessed 01 November 15] Figure 48: H&M, (2015), H&M Kids [ONLINE]. Available at: http://www.smudgetikka.com/ wp-content/uploads/2015/08/image15.jpg [Accessed 01 November 15] Conclusion Forbes. 2015. The Worldâ&#x20AC;&#x2122;s Most Innovative Companies. [ONLINE] Available at:http://www. forbes.com/companies/hm/. [Accessed 04 November 15] Figure 49: H&M, (2015), H&M [ONLINE]. Available at: http://vectorlogo4u.com/hm-logo-vector/ [Accessed 30 October 15]

Figure 49