British leisure time
Module Title: The Theory and Practice of Strategic Management
Module Code: PM018
Tutor’s Name: Ken Kaweesa
Student T-Number: T0014344
Student Name: Yuqing Chen
Word Count: 2397 Introduction
1.1 Background of H&M
H&M is a leading global fashion company, offering affordable and good quality fashion for women, men, teenagers and children around the world (H&M, 2014). To ensure the best price, H&M (2014) claims that they have no middlemen, buy right items in large volumes from the right market. Also, they have their own designers, pattern makers and buyers, and they work as teams to create the collections and make sure the collections are adapted to customers’ demands. According to H&M (2014), the first store was established in Västerås, Sweden in 1947 by Erling Persson. Moreover, Persson can came out this idea because of a business trip to America, during this trip he was introduced to the America’s high-volume efficient outfits that Barneys and Macy’s carried (Göransson et al, 2007). He brought this retail idea back to Sweden. After around sixty years development, today H&M has approximately 3,200 stores on five continents in 54 markets and about 116,000 employees worldwide (H&M, 2014). In addition, the online store is available in ten European countries and the USA (H&M, 2014). Finally, the overall turnover in 2013 was over SEK 150 billion including VAT, which increased by 9 percent in local currencies (H&M, 2014). Besides, according to Adbrands (n.d.), H&M’s majority international competitor is Inditex, owner of Zara, which is the world No.1 apparel company. Current competition also includes other fast fashion brands, for example, GAP, Topshop, Forever 21 (Lynn et al, 2009). Additional, since all the rivals have similar business concept, which offer affordable fashion, hence, the context for H&M is challenging.
Aims and objectives
Asia is an important expanding role in the whole H&M’ rapid
Module Code: PM018
Tutor’s Name: Ken Kaweesa
Student T-Number: T0014344
Student Name: Yuqing Chen
Word Count: 2397 Introduction
1.1 Background of H&M
H&M is a leading global fashion company, offering affordable and good quality fashion for women, men, teenagers and children around the world (H&M, 2014). To ensure the best price, H&M (2014) claims that they have no middlemen, buy right items in large volumes from the right market. Also, they have their own designers, pattern makers and buyers, and they work as teams to create the collections and make sure the collections are adapted to customers’ demands. According to H&M (2014), the first store was established in Västerås, Sweden in 1947 by Erling Persson. Moreover, Persson can came out this idea because of a business trip to America, during this trip he was introduced to the America’s high-volume efficient outfits that Barneys and Macy’s carried (Göransson et al, 2007). He brought this retail idea back to Sweden. After around sixty years development, today H&M has approximately 3,200 stores on five continents in 54 markets and about 116,000 employees worldwide (H&M, 2014). In addition, the online store is available in ten European countries and the USA (H&M, 2014). Finally, the overall turnover in 2013 was over SEK 150 billion including VAT, which increased by 9 percent in local currencies (H&M, 2014). Besides, according to Adbrands (n.d.), H&M’s majority international competitor is Inditex, owner of Zara, which is the world No.1 apparel company. Current competition also includes other fast fashion brands, for example, GAP, Topshop, Forever 21 (Lynn et al, 2009). Additional, since all the rivals have similar business concept, which offer affordable fashion, hence, the context for H&M is challenging.
Aims and objectives
Asia is an important expanding role in the whole H&M’ rapid
References: Adbrands. (n.d.). H&M : Hennes & Mauritz (Sweden). Retrieved April 15, 2014, from: http://www.adbrands.net/se/hennes_se.htm Avila, R Chen, J., Jin, Y., Kour, C., Li, M. M. & Liu, Y. L. (n.d.). H&M Hennes & Mauritz AB Case Synopsis. Retrieved April 07, 2014, from: http://www.sfu.ca/~sheppard/478/syn/1123/SynopsisA.pdf Clemes, M., Gan, C Göransson, S., Jönsson, A. & Persson, M. (2007). Extreme Business-Models in the Clothing Industry- A Case Study of H&M and ZARA. Retrieved March 2, 2014,from:http://hkr.diva-portal.org/smash/get/diva2:230949/FULLTEXT01.pdf H&M (2014) H&M (2014). H&M Annual Report 2013. Retrieved April 12, 2014, from: http://about.hm.com/content/dam/hm/about/documents/en/Annual%20Report/Annual-Report-2013_en.pdf H&M (2014) Kaye, L. (2012, April 10). H&M, The Ethical Fast Fashion Leader?. TriplePundit. Retrieved March 1, 2014, from: http://www.triplepundit.com/2012/04/hm-sustainability-report-2011/ Lynn, H., Bennett, S iResearch (2014). China Mobile Shopping Market GMV Hit RMB167.64 Bn in 2013 with Fast Growing Penetration. Retrieved April 08, 2014, from; http://www.iresearchchina.com/views/5405.html iResearch (2014) iResearch (2014). iResearch Releases China E-commerce Forecast. Retrieved April 08, 2014, from; http://www.iresearchchina.com/views/5584.html Wei, Z