H & M 's Mission

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MGT 220 Term Project- H&M Part 1 H&M’s Mission/Vision Hennes and Mauritz AB is a Swedish retail-clothing company, which has expanded enormously in the past years. H&M has grown from one single store in a small town in Sweden to a multinational ranked as the second largest global fashion retailer with its 3,600 stores in over 58 countries and $22 billion in annual sales (The World’s). This incredible story of success makes us wonder about their strategies and how they managed to get where they are today. H&M’s vision is that all their operations are run economically, socially and environmentally sustainable. They believe that affordable fashion with high quality can be produced and sold in a way that is both fair and sustainable to the…show more content…
Instead of owning their stores, they lease the store properties, which gives them the advantage of flexibility in a constantly changing market. This makes it possible for H&M to always have their stores in the most popular areas in all markets. In order to become even more sustainable H&M is constantly working on making existing and new store more sustainable in the long term, by using more environmentally responsible and efficient energy and water systems, recycling waste and by choosing the most environmentally sustainable materials such as recycled materials. H&M’s expansion plan incorporates all of the H&M Group, including H&M, H&M Home, Monki, COS, Weekday, Cheap Monday and & Other Stories (Expansion). I believe that H&M’s future growth depends a lot on how they will expand online and their sustainability. H&M launched their online store in the US in 2013, but has had some negative response. They offer free shipping, but the costs for the returns will be deducted from the credit of the returned merchandise. Costumers believe that returns should be free or that they should have the possibility to return in stores, which at the moment is not possible. For H&M this is an issue because of the high volume and costs of returns. To stay true to their sustainable image,
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