H&M Ventures into Premium Territory to Compete with Zara
Fast fashion retailer H&M is expanding into premium territory in an effort to compete with rival retailer Zara. Historically, Zara has been seen by consumers as a more premium brand able to charge higher prices. To advance its premium venture, H&M is partnering with world-famous fashion designers and is pushing its own design expertise during events like Paris Fashion Week. Ashma Kunde, Apparel Industry Analyst at Euromonitor, states that this is a necessary move for the H&M, but the company should strive not to alienate its core, price-conscious consumers.
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