The top H&M competitors are Zara, Uniqlo, Gap, ASOS, Macy’s, American Eagle Outfitters, Abercrombie and Fitch and others. The Hennes&Mauritz (H&M) group is headquartered in Sweden. It is a fashion and Design Company. It is well-known for the brand Weekday, H&M Home, and MARKET. The various products of H&M have unique designs and are strong in their design and quality. This brand gives so much importance to the fashion world.
This brand is recognized across the globe for its fashion products and has many store locations. Their products are also available online. It has its presence in almost 60 countries and has a strong financial performance. Hennes & Mauritz AB revenue for the quarter ending May 31, 2023 was $5.514B. Hennes & Mauritz AB net income for the quarter ending May 31, 2023 was $0.315B. Hennes & Mauritz AB market cap as of September 28, 2023 is $20.38B.
Through this article, let us discuss the top H&M competitors
Have you ever wondered how some of the leading fashion brands achieve success?
Zara‘s ability to adapt quickly to fashion trends is bolstered by its efficient supply chain and data-driven decision-making. According to a Harvard Business School case study, Zara takes just two weeks to design, produce, and deliver a new product to its stores, significantly faster than the average six-month process in the fashion industry. This rapid turnaround is a crucial competitive advantage that allows Zara to respond to consumer demands faster than many competitors. The case study highlights that this approach not only reduces fashion risks but also increases customer satisfaction by consistently delivering new styles to its fans (Harvard Business School, 2021).
For those looking to elevate their digital marketing strategy, incorporating the right tools can make a significant difference. Tools like Google Analytics and Hootsuite can be invaluable for monitoring online traffic and managing social media accounts, respectively. Google Analytics allows you to measure advertising ROI as well as track your Flash, video, and social networking sites and applications, while Hootsuite provides a platform to schedule posts, track social media analytics, and engage with customers on a unified dashboard. Using these tools can help fashion brands gain insights into customer behavior and optimize their marketing campaigns accordingly (Google Analytics, Hootsuite, 2023).
Table of Contents
1) Zara
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: 1975,
- Founder: Amancio Ortega.
- Headquarters: Arteixo, A Coruña, Spain.
- Area Served: Worldwide.
- Current CEO: Marta Ortega Pérez.
- Revenue: Rs 2,562.50 crore (2023)
- Brand Value: 13 billion U.S. dollars (2022)
Spanish clothing and accessories brand, Zara was founded in the year 1975. It is one of the topmost fashion companies. It is owned by the largest distribution group, Inditex. Their business operations include design, production, and sales through many retail outlets.
This brand was founded by Amancio Ortega and RosaliaMera. They had opened the first store of Zara in a street in Galicia, Spain which was in the name Zorba. Over the years, this company started its operations in Portugal, France and so on. The various products of Zara cater to the necessities of men, women, and kids clothing, accessories, and bags. The products designs are best suited to the trends of the consumer.
Global fashion brand Zara, has posted a growth of 40.42 per cent in its India revenue at Rs 2,562.50 crore for FY23, according to the latest annual report of Trent Ltd. Its profit was also up 77.66 per cent to Rs 264.30 crore for the financial year ended on March 31, 2023. Inditex Trent Retail India Private Ltd (ITRIPL), a JV which is engaged in the operation of Zara stores in India, in FY22 reported a total income of Rs 1,824.82 crore and a profit of Rs 148.69 crore. In FY22 the entity was operating 21 stores across 11 cities.
One of the main strength of Zara products is its unique designs. The company has many designers who work for them. The company is well-known for launching many designs every year. Due to their brand value and its strong presence worldwide, Zara is considered one of the top H&M competitors.
2) Uniqlo
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: 1984,
- Founder: Tadashi Yanai.
- Headquarters: Yamaguchi, Yamaguchi, Japan.
- Area Served: Worldwide.
- Current CEO: Tadashi Yanai.
- Revenue: 2.1435 trillion yen (May 31, 2023)
- Brand Value: 9.6 billion U.S. dollars (2022)
Uniqlo is a Japanese Fashion brand which was established in the year 1949. The company operates in Japan and in several other countries. Uniqlo is considered the fastest retail group which aims to provide comfort to people. The product of Uniqlo is unique from other brands.
They offer great clothing, latest fashion clothes, and good quality clothes. The company adapts to foreign culture quickly without weakening the culture of Japan thus providing excellent designs in casual wear. Uniqlo has been positioned itself as a modern company that sells its products at affordable prices.
UNIQLO Japan had 809 stores (including 10 franchise stores) at the end of August 2022. UNIQLO International had 1,585 stores, roughly double the number of stores in Japan (Greater China region: 996, South Korea: 122, Southeast Asia & Oceania: 293, North America: 59, and Europe: 115.
The store’s design keeps changing in order to meet the market trends. Due to their sound operational strategy and innovations, Uniqlo is regarded as one of the top H&M competitors.
3) Gap
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: 1969,
- Founders: Donald Fisher and Doris F. Fisher.
- Headquarters: San Francisco, California, United States.
- Area Served: Worldwide.
- Current CEO: Sonia Syngal.
- Revenue: $3,548 (July 31, 2023)
- Market cap: $4.26B (September 1, 2023)
- Number of employees: 95,000 (2023)
Founded in the year 1959, Gap is headquartered in San Francisco, California. It is an American retail company, manufacturing clothes which are founded by Donald Fisher and Doris F Fisher.
The company provides accessories, apparel, and various personal care products for women, men, and children. The various brands under Gap are Gap, banana republic, Old Navy, Intermix brands, and Athleta. Their products are sold through franchisee stores, company stores, and online.
Gap Quarterly Net Income as of July 31, 2023 is $117 Million. Gap Quarterly Gross Profit as of July 31, 2023 is $1,333 Million.
It is a complete store for a complete family. It has a strong dealership network and thus able to reach its customers worldwide. The products of Gap are long-lasting. It has about 3,352 stores worldwide as of 2022.The majority of the company’s stores are located in North America. As of January 28, 2023, the company’s Gap brand had 493 stores in operation in North America. Due to their excellent brand, Gap is considered one of the top H&M competitors.
4) ASOS
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: 2000
- Founders: Nick Robertson, Andrew Regan, and Quentin Griffiths.
- Headquarters: London, United Kingdom.
- Area Served: Worldwide.
- Current CEO: José Antonio Ramos Calamonte.
- Revenue: $1.08bn (Q3, 2023)
- Market cap: $0.68B (September 1, 2023)
- Number of employees: 3,351 (2022)
ASOS is a global fashion brand and an online retailer that produces and offers a wide range of fashion-related products. It sells over 850 brands and also has its own range of accessories and clothing. It sells its product through localized mobile and web.
The products of this brand are women’s wear and men’s wear, accessories, jewelry, beauty collections, and footwear. A much part of the resource of the company is invested in their mobile app. One of the main features of this app is that the customer can upload images of clothing they require and the app would match and return a range of similar items that the company has.
The company’s number of active customers fell to 0.8 million over the quarter. ASOS Annual Net Income in 2022 was $-40 million. ASOS Annual Gross Profit in 2022 was $2,233 million.
It is a one-stop fashion destination for people of all ages. It connects with customers through various platforms like Facebook, Twitter, Instagram, YouTube and many more. As it is the fastest growing brand and focus on international expansion, ASOS is regarded as one of the top H&M competitors.
5) Macy’s
- Product Type: Fashion clothing and accessories.
- Industry: Retail.
- Founded: 1858,
- Founder: Rowland Hussey Macy.
- Headquarters: New York City, New York, United States.
- Area Served: United States.
- Current CEO: Jeff Gennette.
- Revenue: $5,280 (July 31, 2023)
- Market cap: $3.35B (September 1, 2023)
- Number of employees: 94,570 (2023)
A well famous American department store, Macy’s was established in the year 1858. It is the largest department store in the US. It is focused on the operation of websites, stores, and mobile applications. The business operates with the brand name Bloomingdale’s, Macy’s and Bluemercury and sells products like apparel, accessories, home furnishings, cosmetics, and other consumer goods. This company has sponsored the famous fireworks display in the city named Fourth of July during the year 1976.
Macy’s Quarterly Net Income as of July 31, 2023 is $-22 million. Macy’s Quarterly Gross Profit as of July 31, 2023 is $2,104 million.
The company’s largest department store in the world is Herald Square. The company ships products to about 100 countries in the world. The stores are excellent, high-profile and always updated to attract the customers and keep their trends up to the mark. Due to their excellent brand recognition, Macy’s is considered one of the top H&M competitors.
6) American Eagle Outfitters
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: 1977,
- Founders: Jerry Silverman and Arthur Martinez.
- Headquarters: Pittsburgh, Pennsylvania, United States.
- Area Served: United States, Canada, and Mexico.
- Current CEO: Jay Schottenstein.
- Revenue: $1,081 million (April 30 2023)
- Market cap: $3.35B (September 1, 2023)
- Number of employees: 40,000 (2023)
A popular American accessories and clothing retailer, American Eagle Outfitters is headquartered in Pennsylvania, US. This brand caters to all fashion requirements of men and women. The popular products of this brand are polo shirts, jeans, sweatpants, graphic T-shirts, vanity boxers, briefs, swimwear, outerwear, and Henley shirts.
American Eagle Outfitters Quarterly Net Income as of April 30, 2023 is $18 million. American Eagle Outfitters Quarterly Operating Income as of April 30, 2023 is $23 million. American Eagle Outfitters Quarterly Gross Profit as of April 30, 2023 is $413 million.
It is a chain of mall-based stores which sells casual and outdoor fashion apparel. It has about 700 stores in Canada and the United States. It has a steady growth in the fashion industry since 1977. This brand has been expanded to other sub-brands like kids and Aerie which has different segmentation to reach many customers. It has good sales and revenue in the United States. As American Eagle Outfitters is a fastest growing brand, it is considered as one of the top H&M competitors.
7) Abercrombie and Fitch
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: 1892,
- Founders: David T. Abercrombie and Ezra Fitch.
- Headquarters: New Albany, Ohio, United States.
- Area Served: United States, Canada, Europe, Asia, and Latin America.
- Current CEO: Fran Horowitz.
- Revenue: $935 million (July 31, 2023)
- Market cap: $2.69B (September 01, 2023)
- Number of employees: 29,600
Abercrombie and Fitch is an American retailer which mainly focuses on casual wear for people it the age group 21 to 24. It is headquartered in Ohio, US and has about 1049 stores. The company operates in two segments, Abercrombie and Hollister.
The various products offered by this brand are personal care products, apparel, and accessories for people of all age group. The company sells their products through their stores, third-party wholesale, direct-to-consumer operations, franchise, wholesale, and online. One of the unique concepts of this brand is that it makes use of male models and brand representatives of their stores.
Abercrombie & Fitch Quarterly Net Income as of July 31, 2023 is $57 million. Abercrombie & Fitch Quarterly Gross Profit as of July 31, 2023 is $584 million. Abercrombie & Fitch Quarterly Operating Income as of July 31, 2023 is $90 million.
The design of this brand is excellent and fresh and people would love it. Due to their global presence and excellent quality of their product, Abercrombie and Fitch are considered as one of the top H&M competitors.
8) Forever 21
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: 1984
- Founders: Do Won Chang and Jin Sook Chang.
- Headquarters: Los Angeles, California, United States.
- Area Served: Worldwide.
- Current CEO: Authentic Brands Group and Simon Property Group.
An American fast fashion retailer, Forever 21 is headquartered in Los Angles. Established in the year 1984 this company products and sells clothing and accessories. This brand is known for its low price and trendy offerings. Various products sold by the company are beauty products, accessories, and clothing for kids, men and women. It is the fifth largest specialty retailer in the US.
It serves the customers across the globe. This brand always stays updated with the latest fashion trend. Their stores have new things every day to attract customers. The products of this brand are affordable. This brand is more customers friendly.
They focus on the customer feedback and implement it more efficient and immediate to suit their requirement. Due to their brand value and quality, Forever 21 is considered one of the top H&M competitors.
9) Chanel
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: in 1910,
- Founder: Gabrielle “Coco” Chanel.
- Headquarters: Paris, France.
- Area Served: Worldwide.
- Current CEO: Alain Wertheimer.
- Revenue: $17.2 billion (2022)
- Market cap: 15.3 billion U.S. dollars (2022)
- Number of employees: 32,000 (2022)
Chanel is a privately owned company in France which is established in the year 1909. It is a high fashion house that specializes in ready-to-wear clothes, fashion accessories, and luxury goods. This brand is famous for the ‘little black dress’, and the ‘perfume No.5 de Chanel’. It makes use of the jersey fabric to produce garments and hence the clothes were comfortable. It is a well-known brand and has a brand value of about $15.3 billion. It has 500+ stores as of 2022.
The main strength of this brand is that the style and comfort of the clothes. It is also famous for its classic and latest design to suit the need of the customers. Due to their brand value and high revenue based company, Chanel is considered one of the top H&M competitors.
10) Benetton Group
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: 1965,
- Founders: Luciano Benetton, Gilberto Benetton, Giuliana Benetton, and Carlo Benetton.
- Headquarters: Ponzano Veneto, Italy.
- Area Served: Worldwide.
- Current CEO: Massimo Renon.
- Revenue: €1,004 million (2022)
- Number of employees: 6000 +
A global fashion brand, Benetton group is based in Italy. This brand was founded in the year 1965 and has a network of about 5,000 stores in the main international markets. The brand’s core business is the production of clothing lines under the name United Colors of Benetton and Sisley.
At present, this brand is one of the best and well-known fashion companies across the globe. This company is popular for sponsorship of many sports events. It is popular among its customers for its good quality fabric used in their clothes. It has great distribution channels worldwide.
The 2022 financial year ended with revenues that once again exceeded €1 billion, at €1,004 million. United Colors of Benetton operates 3,383 branded stores, while Sisley has 376.The online sales platform notably experienced growth last year. E-commerce now accounts for 12% of the company’s total revenue, amounting to 119 million euros.
It has a consistent growth rate which is a great strength to the company. Due to their strong brand awareness and their attractive marketing campaigns, Benetton group is considered as one of the top H&M competitors.
11) Topshop
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: 1964,
- Founders: Sir Philip Green and David Thomas.
- Headquarters: London, United Kingdom.
- Area Served: Worldwide.
- Current CEO: None (Asos acquired Topshop in 2021)
A British multinational retailer, Topshop is fashion industry manufacturing accessories, make-up products, shoes, and clothing. This company was established in the year 2003 and has about 500 stores across the globe with an online store as well.
It is an innovative brand which offers a wide range of product at an affordable price. It is a one-stop fashion shop which always updates its products to meet the demands of the current fashion. The main strength of this brand is the store that is easily accessible at any location. It also provides its services through a rich website which has an interactive design.
It has its presence in many networking sites like Blog, Facebook, Twitter and many more. Due to their affordable prices and various concessions available with the brand, Topshop is considered as one of the top H&M competitors.
12) Louis Vuitton
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: 1854,
- Founder: Louis Vuitton.
- Headquarters: Paris, France.
- Area Served: Worldwide.
- Current CEO: Michael Burke.
- Revenue: €42.2 billion EUR (first half 2023)
- Market cap: $424.93B (September 1, 2023)
- Number of employees: 173,492 (2022)
Also regarded as a top H&M competitor, Louis Vuitton is established in the year 1854 and headquartered in France. It produces various products like ready-to-wear, watches, accessories, books, and sunglasses. It is one of the world’s largest fashion brands and its products are sold through various channels like department stores and online commerce.
LV has More than 500 stores and 110 manufacturing facilities and workshops located across France. The products of Louis Vuitton have never compromised in quality and it is one of the biggest strength of this brand. This brand has a strong association with class and status. Louis Vuitton is one of the most valuable luxury brands in the world, with profit margins approaching 40% .
For the six months to 30 June, LVMH’s profit from recurring operations grew by 34% to €10.23bn and its operating margin reached 27.9% of its revenue, while its group share of net profit was up by 23% to €6.53bn.
Louis Vuitton is also known for its personalized luggage which is identified on the label. The design team of this company consists of top designers in the world. Due to their high-quality products and its brand value, Louis Vuitton is considered one of the top H&M competitors.
13) Mango
- Product Type: Fashion clothing and accessories.
- Industry: Fashion.
- Founded: 1984, by Isak Andic.
- Founder: Isak Andic.
- Headquarters: Barcelona, Spain.
- Area Served: Worldwide.
- Current CEO: Toni Ruiz.
- Revenue: 1.45 billion euros (H1, 2023)
- Number of employees: 14,082 (2022)
A Spanish clothing design and manufacturing company, Mango is headquartered in Spain. It was introduced in the year 1984. It is one of the leading fashion industries in the world. On a global scale, Mango’s store network now encompasses 2,615 stores worldwide, following over 40 net store openings since December 2022.
Their products cater to the fashion requirements of men, women, and kid. It has a strong brand value across the world. To enable technology-oriented service, it also provides online services which provide a user-friendly website to their customers to make their buying easy. The products designed by the company are unique and liked by people of all age group. As of June 30, Mango’s online business posted over 150 million users and witnessed 435 million log-ins.
Mango closed 2022 with a pre-tax profit of 103.3 million euros. Mango had a net profit of 81 million euros. The company accelerated the development of its stores’ network in 2022, closing the year with a total of 2,566 stores, which represents 119 net store openings in twelve months. The company closed the 2022 financial year with a presence in over 115 markets on all five continents. In 2022, Mango added two new countries to its international footprint: Cameroon and Morocco.
This company ensures that fashion trends are met and keep their offline and online stores updated all the time. Due to their product quality and a wide range of products, Mango is considered one of the top H&M competitors.
Conclusion
Fashion trends keep changing always and the fashion industries move at a very fast pace to achieve their business goals and objectives. H&M is making use of the expertise and considering the current trend in fashion to drive the fashion world to a better tomorrow.
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