H&M is yet another fashion retailer looking to control costs amidst weakening consumer demand. It is also following premium fashion retailers and some of its low-end competitors with a move into fashion rental.
Around 56 of its UK stores have closed over the past 18 months or so, leaving it with 192. This, it says, will allow it to modernise its flagship stores including one on London’s Regent Street to accommodate a rental department and a beauty section.
The Swedish business that operates worldwide has several brands including & Other Stories, Monki and Cos.
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