Klarna’s single technological platform will enable an outstanding end-to-end customer journey across all H&M channels. This will include frictionless instore, mobile and online payments, simplified deliveries and returns and the flexibility to decide how and when to pay including the popular ‘try before you buy’ Pay later service. All of these will be integrated into the next generation of the H&M app and H&M Club. The result will be an inspiring, relevant and convenient experience for millions of customers across 14 H&M markets, with the UK and Sweden in the first phase, expected to go live in 2019.
Furthermore, H&M group will make an investment in Klarna. The equity investment demonstrates a shared commitment and vision to the continual development of smarter retail where optimisation is constant in order to meet customers changing expectations and preferences.
Karl-Johan Persson, CEO H&M group says: “We are impressed with what Klarna has achieved to date and now we will work together to elevate the modern shopping experience. This strategic partnership between H&M group and Klarna is based on a joint relentless focus on creating great customer experiences.”
Sebastian Siemiatkowski, CEO and Co-founder of Klarna, says: “Retail is changing, and the future of fashion retail is high tech powering high touch experiences for customers. Regardless of how and when customers want to shop, we need to be there for them. Customers will no longer be forgiving of unnecessary complexity or when their retail experience does not leverage the insight available to make their engagement smart, personal and easy. This partnership is rooted in a shared obsession about just how good that shopping experience should be. Together we have worked hard on developing a unique solution for instore and online that will delight customers, drive economic value and build loyalty.”
Daniel Claesson, Head of Business Development H&M group, says: “We at H&M are very excited about this partnership. We want to make it possible for customers to move freely between the various channels and choose how they want to shop and experience our offering online and instore. This partnership will bring tailormade payment solutions to our customers and accommodate evolving shopping patterns and needs. This includes the possibility to ‘try before you buy’ which is very relevant to online fashion retail today and to pay with their mobile phone directly through the H&M app both instore and online.”
Hrithik Roshan-backed fashion brand HRX is gearing up to launch its exclusive brand outlets next fiscal.The average size of the store is expected to be around 2,000 sq.ft.
Explaining it further, Afsar Zaidi, Co-Founder, HRX told Indiaretailing in an exclusive interview, “The first store of HRX will be opening in Bengaluru and then we will be expanding to other cities like Pune, Delhi/ NCR and Mumbai.”
The brand is currently weighing both the options – malls and high-streets to open the stores. The average size of the store is expected to be around 2,000 sq.ft.
“We will continue to sell online through Myntra and Jabong. Offline stores will let consumers touch and feel the product and will help us get instant feedback. This will further increase the scope of product improvment and developing new categories,” said Zaidi.
Soon, HRX will also be foraying into performance wear by launching Metalite- first high performance shoes.
According to Zaidi, “Footwear has seen a great upsurge lately. From contibuting 35 percent to the overall sales the numbers have gone up to 50 percent.”
From past two year, the brand which has been growing 100 percent year-on-year, is targeting Rs 300 crore revenue for the current fiscal.
Future Group has partnered with fabric brand Vardhman to co-develop products for its apparel business and plans to launch 6-7 products every year. Future Group will use Vardhman’s fabric for products being sold across its formats such as FBB, Central and Brand Factory.Future Group has partnered with fabric brand Vardhman to co-develop products for its apparel business and plans to launch 6-7 products every year
“Apparel is a very important business for us and it is growing rapidly. We have signed a memorandum of understanding (MoU) with the Vardhman Group to co-develop products for our apparel business. This strategic partnership will enable us to make quality fashion more affordable,” Rakesh Biyani, Joint Managing Director, Future Retail told PTI.
“We plan to launch 7-6 products every year. Initially, the products will be for our value fashion format FBB. Later, we will launch these co-developed apparels at other Future Group apparel formats,” he further told PTI.
According to a PTI report: Biyani, however, did not disclose the financial details of the agreement.
Earlier, FBB had said it plans to invest Rs 350 crore to open about 140 exclusive outlets as it aims to double its turnover in the next two years.
At present, FBB retails its products through 385 points of sales in Big Bazaar stores, including 62 exclusive outlets.
Global warming, inconsistent weather conditions and the shrinking winter season have adversely impacted India’s winter wear market, changing consumer buying behaviour. Climate change has served to transform the business models of apparel retailers as well as their designs, and the very notion of seasonal fashion itself.While the main purpose of winter wear is to keep a person warm in cold weather, over the years, this category has evolved from a necessity to a fashion statement
The period between December to March, when the northern part of India usually witnessed extreme winters, has shrunk to just a few weeks. The practice of bringing winter fashion to the shelves in August to ensure smooth logistics for retailers are a thing of the past, with brands questioning the lead time since no one really buys winter wear so early on in the year anymore.
“The climate change has not only impacted sales locally but globally as well, since weather patterns are becoming increasingly unpredictable. India being a seasonal market, the challenge becomes even bigger as retailers are left with limited time to ensure the inventory is sold,” says Abhishek Shetty, Head – Marketing, PR & Loyalty, Celio*.
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