&mHistory of H&M
H & M, (Hennes & Mauritz AB) is a Swedish multinational retail-clothing company, known for its trendy fashion clothing for men, women, teenagers and children. It started out as a single womenswear store in 1947, and subsequently transformed to a global company offering fashion for the whole family, and their home. The business concept is to give the customer unbeatable value by offering fashion and quality at the best price. H&M ensures the best price by having few middlemen, having a broad, in-depth knowledge of design, fashion, textiles, buying the right products from the right markets, and being cost-conscious at every stage. H&M is driven by seven core values, namely; Keep it simple, Straight forward and open-minded, Constant improvement, Entrepreneurial spirit, Cost conscious, Team work, Belief in people. H&M’s quality testing is extensive, coupled with hard work to make sure goods are produced with least possible environmental impact and under good working conditions. Production is outsourced to independent suppliers as H&M does not own any factories. Apart from this, H&M does not own any of its stores, as they rent store space from international and local landlords. H&M is present in 43 countries and has employed about 94,000 people as of 2011. It has 2,325 stores at end of 2011 and 2,629 stores at end of August 2012. It is ranked the second largest global clothing retailer behind Zara and No. 1 user of organic cotton worldwide. Current Logistics process of H&M
H&M does not own any factory, they have outsourced to external suppliers that managed two departments: Procurement and Production. The Procurement function focuses on customers, fashion and composition of the range. The clothing designs are created in Sweden by around 100 internal designers, 50 pattern designers and an estimated 100 buyers. H&M’s method of production is customer-driven. The company puts emphasis into research and...
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