“We are extremely delighted to partner with H&M, one of the world's leading fashion brands and host them on Myntra and Jabong. As India’s leading fashion destination for international brands, this partnership will allow millions of online shoppers across the country to access and experience the best of H&M and have it delivered at their doorsteps," said Amar Nagaram, head – Myntra and Jabong.
In the 2017-18, H&M opened online in four new markets: in India and via franchise in Kuwait, Saudi Arabia and the United Arab Emirates, where H&M Home also became available online. Today H&M is online in 47 markets. The year saw the opening of the first H&M stores in Ukraine and Uruguay.
The H&M group is also developing an AI model designed to address several areas including trend detection, quantification, allocation, pricing and personalisation. Physical and digital channels are being integrated to make it easy for customers to move between stores and online.
“India is a growth market with large potential and we look forward to making our brand available to new customers across the country. Myntra and Jabong will be an important complement to H&M’s existing physical and digital stores in India,” says Karl-Johan Persson, CEO H&M group.
To keep the brands relevant in a fast-changing world, the H&M group is taking advantage of its size and local presence in combination with the opportunities created by the digitalisation of the fashion retail industry.
In 2018, there was global expansion of Radio Frequency Identification, with continued roll-out from 12 markets to more markets in 2019. Moreover, 3D technology is now used in the design process for several product groups, enabling streamlining of the process and less material being used. New technology, training and a physical 3D studio have also been implemented. H&M has also created Take Care in its stores in the UK, France, Sweden and Norway. Take Care provides everything customers need to repair, remake and freshen up their clothes, shoes and accessories.
"The rapid transformation of fashion retail continues, and 2018 was a challenging year for us as well as for the industry. Digitalisation is rapidly changing consumer behaviour. Competition is intense, with the arrival of new players and business models, and customers’ expectations are changing. With more and more shopping taking place online the retail landscape is being reshaped, also changing the role of stores. Against this backdrop we accelerated the H&M group’s transformation during the year to ensure longterm positive development for the company," explained Persson. (RR)
Fibre2Fashion News Desk – India
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