No Crisis: H&M Raises Sales by 9 Percent

The Swedish fashion chain H&M has 1,600 stores in 33 countries, with 68 thousand employees.

Whilst the vortex of the recession hit many brands and led to their closure, fashion houses are fighting to survive on the market with their fashion accessory editions.

The fashion chain Hennes and Mauritz, who is bound to reveal its data in accordance to Swedish law on the market of bonds, can happily rub their hands. Their report says that sales, according to statistical data from October, has risen by 9 percent in comparison to last year. Their report says that sales have risen by nine percent in comparison to last year. H&M’s financial year is recorded from December 1 to November 30, and includes store data, catalogue and internet sales. The business concept of quality fashion and cosmetic articles for acceptable prices, H&M Hennes & Mauritz AB, was founded in 1947, and today is one of the most famous chains with 1,600 stores in 33 countries, employing 68 thousand employees.

The Swedish chain also pulled a real marketing trick by hiring designer Rei Kawakubo to design a capsule collection for them, that created a collapse at all stores across the country. Hilary Alexander from the Daily Telegraph evaluated that move as the best cooperation that H&M ever had, and the best that any commercial company ever made, which will probably raise sales statistics, which will be announced to the public on December 15.

It seems that a time of recession is a time of growth for fashion chains. The British billionaire Sir Philip Green, the owner of BHS and Arcadie (Top Shop), negotiated to take over a debt estimated at one billion pounds from Iceland’s investment group Baugur, after they went bankrupt last month.

Green said for The Sunday Telegraph that he met with Cabinet officials and boards. He said they were very constructive because they had the ability to react fast and avoid the financial failure of the financial crisis.