Quality products, backed by a strong brand, are vital for success. If you are the person who loves Fashion and will never get tired of going with the trend, then H&M stands for You. To keep their customers and stay ahead of competitors H&M develop first-class products and improve existing ones. A fast-fashion brand and suitable for the young group of mass-market brands is a Swedish multinational clothing retail company.
Although H&M is closing down 250 stores globally next year in the wake of the coronavirus pandemic, they will continue to expand their physical stores in India, betting on the long-term potential of the country. H&M India country manager Janne Einola once said, they are relatively small in India and for the physical stores remain incredibly important and there is great potential to grow with physical stores as well as digital in the future and he also mentioned, they want to make sure that they have the right stores at the right locations. They are looking at India with positive eyes. They plan to open new stores at Lucknow and Bhubaneswar.
Making a “Win-Win”, the truly successful win-win not only consists of creating a satisfied customer but also a better growth and sustainability for both online stores and physical stores. When the confidence and sentiment start to change slowly, the people will come back to physical stores relying more on the digital stores. Considering the positive environment, India promises a lot for the future when the pandemic is over. This is what was mentioned by Einola.
The brand always discovers killer opportunities that customers will clamor for. They need to strengthen their position by finding out the opportunity that result’s in Growth. They know that planning their future Marketing strategy is much more effective if they begin by examining the present. They look closely at the marketing activity they currently undertake as well as the reasoning behind it.
When H and M entered India five years back, the company has witnessed a sudden growth in those five years. Then the Swedish trailer said they don’t have any need for closures, but there is a need to open more stores. By differentiating their own business from their near-identical neighboring competitor, they succeeded in making the brand more profitable. Their idea was simple but clever: adding value for customers without increasing the cost.
When a question was asked to Einola about the number of stores they would like to open in the next five years. He said that it was difficult for him to quantify but he mentioned that it may not be as many as they did in the last five years but definitely, they will continue to grow in the coming years. Making the right proposition to the right customer at the right time cannot be left to chance. H& M builds up a realistic picture of their brand. Now they are ready to look to tomorrow.
