Overview Hennes & Mauritz better known as H&M is an international fashion retailer that offers clothing and accessories to women, men, and children. The late Erling Persson founded his first retail store that originally went by just "Hennes" which means "her" in 1947 in Sweden. The company later expanded in 1968 when Erling acquired a men 's hunting equipment store by the name of Mauritz Widforss. Thus, beginning "Hennes & Mauritz," shortened to "H&M" an international clothing retailer roughly worth $67.8 billion to date according to Forbes.
Products and Demand H&M offers a wide variety of clothing that ranges from casual to chic. In 2004 they began collaborating with big high fashion names such as Karl Lagerfeld, Alexander Wang and more recently Balmain. According to H&M 's current CEO Karl Johan grandson of Erling Persson, the company 's goal is to make fashionable clothing that is "affordable and sustainable"(Persson hm.com). H&M’s clothing does not cater to a specific customer, and they offer a wide variety of different categories designed for different age groups. More specifically they offer basic everyday wear, premium quality products, conscious sustainable clothing, maternity wear, sportswear, loungewear, and more. This is why, H&M is able to appeal to generations of …show more content…
Price elasticity of demand ‘measures the relationship between a change in the quantity demanded of a particular product and a change in the price of that product’(Parkin 84). For example, their higher priced premium quality products are only about 7% percent of all they items they offer on their website. I can speculate that the average H&M customer probably does not have the income to purchase items in their premium line. Conversely, I can speculate that wealthier shoppers who can afford premium quality items probably never shop at H&M simply because quality
Products and Demand H&M offers a wide variety of clothing that ranges from casual to chic. In 2004 they began collaborating with big high fashion names such as Karl Lagerfeld, Alexander Wang and more recently Balmain. According to H&M 's current CEO Karl Johan grandson of Erling Persson, the company 's goal is to make fashionable clothing that is "affordable and sustainable"(Persson hm.com). H&M’s clothing does not cater to a specific customer, and they offer a wide variety of different categories designed for different age groups. More specifically they offer basic everyday wear, premium quality products, conscious sustainable clothing, maternity wear, sportswear, loungewear, and more. This is why, H&M is able to appeal to generations of …show more content…
Price elasticity of demand ‘measures the relationship between a change in the quantity demanded of a particular product and a change in the price of that product’(Parkin 84). For example, their higher priced premium quality products are only about 7% percent of all they items they offer on their website. I can speculate that the average H&M customer probably does not have the income to purchase items in their premium line. Conversely, I can speculate that wealthier shoppers who can afford premium quality items probably never shop at H&M simply because quality