H&M announced on Friday (Jan. 26) its plan to close down more than 20% of its stores in Spain and lay off up to 588 employees. The company cited unspecified organizational, productive and economic reasons. The move comes in response to competition from Inditex, owner of...
As brands and retailers continue to find new ways to prevent returns, one begs to ask: Are they working? As per an National Retail Federation report, following two years of increasing returns rate, the percentage of returns decreased to 14.5% of total retail sales in...
As H&M focuses on a new consumer group, the fast-fashion retailer is set to open a store on King’s Road in Chelsea, London, in spring, responding to fashion demand. The store, however, takes a different approach to what the brand is known to do. It...
Many (79% of shoppers under 30 to be exact) find returns to be a cumbersome undertaking. Consequently, brands and retailers are implementing seamless return procedures to create a pleasant customer experience. This approach is crucial as the holiday return season is underway. Recent data from...
January 02, 2024
Uniqlo wants to grow by selling good-quality apparel at affordable prices. That’s the stance the Japanese retailer is taking when it comes to securing its spot in the world of consumers and fast fashion. The move comes as consumers are increasingly examining where and how they spend their money in search of the most value […]
December 27, 2023
As H&M works to attract a new set of shoppers, while Shein and Zara pick up more market territory in the fast fashion landscape, Mango, the Spanish retailer, is fortifying...
October 02, 2023
The intersection of technology, social dynamics and economic factors has created an environment where theft — both individual and organized — has proliferated. And H&M is the most recent victim...
July 05, 2023
Returns have long been a cumbersome process for consumers, commonly regarded as a task most of them detest. This intense dislike has gradually permeated through brands and retailers, impacting their...
December 15, 2023
Fashion retailer H&M is reportedly making strategic moves to attract more aspirational shoppers and differentiate itself from fast-fashion giant Shein. With Shein’s rapid growth and disruptive presence in the market, H&M is seeking to build back profit margins and secure its position in the industry by shifting its focus to upmarket shoppers, Reuters reported Friday […]
November 01, 2023
Tabby, a buy now, pay later (BNPL) platform based in Riyadh, has raised $200 million in its Series D funding round, achieving a valuation of $1.5 billion. This has made...
September 13, 2023
H&M is planning to sell secondhand clothing from its flagship London store. The Swedish apparel retailer will debut its “Pre-Loved” collection of womenswear Oct. 5, the company said in a...
August 01, 2023
Facing pressure to improve their environmental record, clothing makers want to repair customers’ worn garments. It’s a trend PYMNTS has been following since last year and the subject of a Tuesday (Aug....
