Constant Innovation H&M Launches Shirts Customized Service

The Swedish clothing giant Hennes & Mauritz AB (HMb.ST) Haines Maurice group (hereinafter referred to as "H&M group") is constantly trying various new forms, first of all being flagship brand H&M.

This week, H&M officially provided services to users through H&M Lab, which is currently serving the German market through HMlab.de website. Founded in 2018, H&M Lab is committed to providing new innovative projects for H&M customers, focusing on sustainable, digital and offline and online customer experience.

Germany is currently the largest single market of H&M group and H&M, so the new form of test water is usually placed in the market. In October, H&M also launched a comprehensive lifestyle shop covering yoga courses, cafes and external brands in Berlin.

The first service of H&M Lab is a cooperative fashion retailer custom solution company ZyseMe. The two companies announced cooperation in April this year to launch the Just.Perfect timed Just.Perfect project. The latest cooperation project is known as "H&M Yours". German consumers can complete the customized mens shirts with the price of 34.99-39.99 euros through H&M Lab platform.

Oliver Lange, head of H&M Lab, said that the pilot project is brand learning to continue to bring more consumers into products in a sustainable way while producing personalized clothing.

As we all know, the fast fashion industry is encountering a moral crisis as much as its large capacity and third world factories. Despite the popularity of democratic fashion, the younger generation of consumers is paying more and more attention to the new trend of environmental protection based sustainable development, and the global brand is also paying more and more attention to social responsibility and sustainable development.

Prior to that, the Swedish group also began to explore the form of clothing leasing. H&M Stockholm flagship store lets some brand members rent some high-end series. The group's second largest brand COS is also carrying out a three month trial cooperation plan with China's clothing ordering box YCloset Yi Ersan.

After two years of struggle, the H&M group began to recover strongly this year. Data released in the middle of the month showed that the net sales increased by 9.4% to 61 billion 704 million kronor in the four quarter of November 30th, an increase of 5% according to the local exchange rate, maintaining the median growth rate of the previous four consecutive seasons. The management explained the slowdown in the four quarter with the calendar effect. The black Friday, which was one week late last year, was 500 million in December. After excluding this factor, the net sales growth in the four quarter was 10%, increasing by 6% according to the local exchange rate.

In the 2019 fiscal year, H&M group's net sales totaled SEK 232 billion 764 million, up 10.6% from 210 billion 400 million kronor in the 2018 fiscal year and 6% by local exchange rate. With the steady growth in sales, management expects to reverse the profit decline that has been recorded since 2016 because of sales slump, business restructuring and investment in transition.