H&M have come under criticism this week for an incident regarding their children’s clothing range advertisement which has had big celebrities and influencers slating their decision to run with said advertisement.
With that said H&M are known across the globe as one of the fast growing fashion stores today. Despite the challenge of online retailing, H&M has grown. However, it cannot be denied also that the challenge poised by online retailers is there, and for other stores to rise up to that, then they have to go to that same area where the online retailers are.
That is why H&M is making an online discount store in order to keep growing. The online discount store aims to sell branded items at discount prices, something that would find much appeal among many consumers.
A Potential H&M Marketplace?
H&M is said to be in talks with sixty fashion brands to be featured in the planned discount store. This would be a great place for people who are looking for quality branded clothes at discount prices, something which H&M hopes it would be.
The company does see the site to be a deal hunting paradise for those who are looking for the best deals for name-branded clothes.
So far though they have not officially confirmed about the plans for the online discount store. However, according to the website Breakit there are already people working on the project at an undisclosed building somewhere in Stockholm.
Nils Vinge, H&M’s head of investor relations, has said that they don’t make announcements ahead of a launch. With news like this coming out though, it is likely that there would be such a store coming out soon.
With online retailing getting bigger, it only makes sense that stores such as H&M are making plans to compete as well. Many stores are planning to make their online presence felt as well, which shows that the next big arena for retailing would truly be online.
Which other stores do you think would make the move towards being online? Place your comments below.