H & M Announced The Fourth Quarter Financial Report, The Fast Fashion Market Is Still Grim Next Year

Recently, H & M Hennes & Mauritz, an international fashion retail giant, announced its fourth quarter financial report in fiscal year 2019. According to the data, the net sales of H & M group in the fourth quarter reached 61.7 billion SEK, an increase of 9% compared with the same period of last year. Net sales for the year amounted to SEK 232.8 billion, an increase of 11% over the same period last year. All media reporters have learned that as of November 30, 2019, H & M group has opened more than 5000 stores in 74 markets around the world, and has opened online stores in 51 markets. In addition, H & M opened five new stores in mainland China in the fourth quarter, located in Huaian, Hengyang, Zhenjiang, Taizhou and Putian. As of November 30, 2019, H & M has more than 450 stores in mainland China. However, industry insiders pointed out that the fast fashion market situation in 2020 is still grim. Among the young people, the proportion of "domestic products" may have a surprising opportunity to "break through the encirclement".

Domestic fast fashion brand anti super

According to the data of China clothing association, compared with 2018, many international fast fashion brands showed positive growth, such as Muji, gap, Zara, etc., with 12, 11 and 7 new stores respectively; while UNIQLO only opened 28 new stores, slightly decreased compared with the previous year, but the number of stores still ranked first. Taking H & M as an example, its new stores have been cut off continuously in the same period of the past three years, from 21 to 6. On the contrary, local fast fashion brands such as ur have reversed with 12 new stores, which means that they have become "the light of domestic products". According to the analysis of all media reporters, in view of the gradual improvement of consumers' demand for clothing quality in recent years, the low-cost means that used to be proud of fast fashion has obviously not been effective. As Forever 21 officially announced its withdrawal from the Chinese market, the strategy of relying solely on "diversified styles" to attract young consumers has also failed.

In the future, the competitiveness of fast fashion should be more focused on developing "collocation diversification and functional presentation". Industry insiders have suggested that it may be time to make up for the weak "fashion culture" part of fast fashion.