The CEO says that H&M should raise the tape to meet the fierce fast fashion competition.

Written by Helen Reed

Reuters CEO told Reuters that Stockholm (Reuters)-H&M cannot win the price alone and must make her clothes more modern and higher quality in the fast competitive fashion sector.

In his first year as an executive president, Erver led investments in marketing to increase H & M Brand’s attractiveness, as well as a batch to accelerate the development of products as the retail seller tries to restore its market share of competitors such as Zara owned by Inditex.

Erver said in an interview on Thursday after sales of the Swedish company in the fourth quarter:

“Just compete for the lowest price will not reduce from us, we need to escalate and raise the tape,” said Erfar.

Shein on the Internet only reduced H&M and Zara at very low prices for dresses, peaks, jeans and accessories, forcing them to find new ways to distinguish between themselves.

Erver said that H&M will continue to invest in the influencers of social media and cooperate with pop stars such as Charli XCX, Erver, to reach more young women who are conscious of fashion.

“To start accelerating the work of the market share and … putting ourselves, it was really important to win the female customer interested in fashion, especially the young generation, because it will form the industry for the future.”

In addition to increasing its access on social media, attracting more customers through its doors is the H&M key, which cut the number of total stores but renewed some major cities.

The H&M Premium Arct brand opens the first brand in its stores in Austria, Norway, Greece and Ireland this year. These cafes will include, as part of a batch to get shoppers to stay longer.

Although he was not satisfied with the general performance, Erver said that the operating profit margin in the fourth quarter of H&M was partial thanks to a stronger product mix.

The financial manager of H&M said in a separate interview on Thursday, that the changes it takes to shorten its supply chain and accelerate its design process can reduce the time between the idea of ​​the product and reach the store by up to 50 %.

(Participated in the reports of Helen Reed; edited by Alexander Smith)