H&M Will Sell Other Clothing Brands. Why Is Fashion So Self Subversion?

A few days ago, the Swedish media announced that Local fast fashion brand H&M A very unexpected plan has been made to sell other clothing brands in H&M brand stores. It is reported that H&M will be tested in some stores in advance. As the core brand of the group, the sale of external brands will undoubtedly be a new transformation and challenge for H&M.

Coincidentally, Japan's fast fashion brand UNIQLO is not only positioning itself with fast fashion, but also exploring the possibility of its development in sports and fashion. In 2018, Uniqlo Out of $300 million to sign tennis star Federer, a special commemorative T-shirt has been released for sale in Europe. UNIQLO is so eager to compete for sports marketing resources, and other fast fashion brands are divided into distinct boundaries.

What do H&M and UNIQLO reflect? Is fast fashion brand really going to overturn fast fashion?

First of all, with the gradual saturation of market development, the development of fast fashion brands has entered a bottleneck stage. For example, H&M group profits have declined for 3 consecutive years. Seeking transformation may be the best choice for H&M.

As H&M related merchants have said: "To supplement our products with external brands is to increase more stimulation and vitality. We have great room for growth and passenger traffic. In fact, at H&M Sweden headquarters, there are other brands of H&M and group, such as & Other Stories, Arket The practice of selling brands outside the sales group is really good.

Secondly, because fast fashion brands lack deep brand culture and spiritual core and rely too much on channel laying, it is hard to maintain lasting brand attraction in the fast fashion market competition.

H&M decided to introduce external brands, perhaps because of Zalando in Germany and Asos in Britain Consider the competition of multi brand fashion online retailers. Some professionals believe that the market wants to see fast fashion brands' efforts in channel transformation as well as to see how fast fashion can subvert the rigid business model with innovative products and business models.

For example, the deepening of UNIQLO's development in sports products is enlightening for the whole industry. UNIQLO released its new sportswear for the 2019 French Open tennis tournament, designed by Federer and Jin Wei two tennis world leaders.

In order to make up for the lack of fashion, in recent years, the pursuit of simple basic funds and trying to stay away from the fashion label of UNIQLO is continuing to become fashionable through cross-border cooperation. Not long ago, UNIQLO and the streets of the United States Artist KAWS The joint T-shirts were scrambled to buy, and for a while, they crowded into the hot search. This is not the first time that UNIQLO has worked with KAWS. As early as 2016, UNIQLO launched the first joint series with KAWS, and last year, UNIQLO and KAWS and Sesame Street also launched a joint series of three parties, which was also sold out instantly.

Thirdly, the fast fashion traditional quick response advantage has been broken by the more light online "super fast fashion". And Boohoo, Missguided, Fashion Nova Compared with online retailers, UNIQLO and H&M's physical shops have become a burden. On the one hand, these stores are facing the risk of consumer loss, on the other hand rents are soaring. Statistics show that As of fiscal year 2018, Zara parent Inditex group has 7490 stores in the world. In the past year, 370 new stores have been added, 226 stores have been renovated or expanded, and the group's rental expenditure has increased 1.4% to 2 billion 392 million euros compared with 2 billion 358 million in the 2017 fiscal year.

The emergence of "super fast fashion" enables consumers to enjoy the same or similar products at a lower price, and they are more focused on "fast". They are shorter from design to shelf, and more products are updated in fixed time. This is why fast fashion brands will increasingly feel that they can't catch consumers, and consumers of second tier cities, which are influenced by consumption upgrading and rational consumption, are constantly leaving the fashion market. In short, the fast fashion brands like H&M and UNIQLO do arrive at the time to subvert themselves.