18 August 2019

H&M plans e-commerce launch in China, WSJ says

Hennes & Mauritz is willing to shoulder heavier costs in an effort to keep the Swedish retailer’s growth machine churning, including raising the stakes in the Chinese market, the Wall Street Journal reported Thursday, citing chief executive Karl-Johan Persson. H&M will launch e-commerce activities in China, where it has 228 stores, the report said. H&M has been selling more clothes in China but margins are tighter there than in more developed nations, boosting the need for a better business model, it said. And, competitors are jumping ahead on the e-commerce front, the report said.

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