Marketing Strategy of H&M: PESTLE, SWOT, Porter's and 7Ps Analysis

This is a sample report on the marketing strategy of H&M, written for a postgraduate marketing module and built around a new product launch: a range of detachable sleeves aimed at women aged 25 to 34 in the UK. It works through PESTLE, SWOT, Porter's Five Forces, STP, SMART objectives and the 7Ps of the marketing mix, then makes recommendations. The market data in the body of the analysis runs to 2022; a short section further down updates the headline figures from H&M Group's own full-year report for 2025.

If you are writing something similar, our MBA assignment help covers marketing plans, launch strategies and framework analyses, and you can read more MBA assignment samples first.

The launch case is a range of detachable sleeves: a separate pair of sleeves that fastens to a sleeveless dress or top, so one garment can be worn several ways. The report chose it because it fits the fast-fashion model H&M runs, where a design moves from catwalk to store within a season and is priced for a buyer who follows celebrities and social media rather than the couture houses.

What This H&M Marketing Strategy Report Covers

The report is in two parts. Part 1 sets out the situational analysis: an introduction to H&M, a PESTLE analysis, a SWOT analysis, the brand's competitive advantage and an evaluation of its current marketing strategy and performance. Part 2 builds the launch plan: segmentation, targeting and positioning, SMART objectives, the 7Ps marketing mix, and recommendations.

In summary, H&M's position rests on affordable fashion at speed, and the situational analysis finds that position under pressure from rivals on the same ground, from trade and sourcing risk, and from a store estate that has shrunk every year since 2021. The launch plan answers with a low-cost accessory that restyles clothes a customer already owns, sold mainly online, with a recycled or regenerated fibre as its claim. On the plan's own illustrative assumptions it is a line worth about £2.5 million in its first year, to be judged as a test of the sustainability message rather than as a revenue project.

Introduction: H&M and the Detachable Sleeves Launch

H&M is a Swedish fashion retailer, the initials standing for Hennes & Mauritz, which opened its first store in 1947 (H&M Group, 2026c) and has its head office in Stockholm (H&M Group, 2026a). At 30 November 2025 the group had 4,101 stores, the H&M brand sold in 81 store markets and 61 online markets, and group net sales for the year were SEK 228,285 million (H&M Group, 2026a). A new product inside that range needs four things: a defined customer, a price that sits inside the brand's existing price architecture, capital for the first season's stock, and promotion that reaches the customer before paid media is bought. Part 1 of this report analyses the company's existing market; Part 2 designs a launch that meets those four conditions.

What Does a PESTLE Analysis of H&M Show?

A PESTLE analysis of H&M shows a retailer exposed to trade intervention and to political instability in its sourcing markets, facing UK inflation and changing tax rules, and selling to customers who want affordable, sustainable fashion shaped by celebrities and social media. The other rows cover e-commerce, intellectual property, customs rules, wastewater and cotton.

PESTLE analysis of H&M

P Political

• The UK is politically stable; the group lists political and social instability in its production and sourcing markets as a principal risk
• China and Bangladesh are the largest production markets for clothing
• Trade intervention: customs duties, textile quotas and embargoes raise purchasing costs

E Economic

• Net sales SEK 228,285m in FY2025, up 2% in local currencies
• UK CPI inflation of 5.4% in the year to December 2021, when the report was written
• Tax rules change across the group's markets

S Social

• Customers are influenced by celebrities and social media
• Wants simple, elegant style at a low price
• Innovation in fashion with a touch of tradition

T Technological

• The H&M brand sells online in 61 markets
• The app and online store are the main channel for a launch
• Digital communication between the group and its suppliers

E Environmental

• Demand for recycled and sustainably sourced materials
• Water use and wastewater in dyeing and finishing
• Cotton production and its emissions

L Legal

• Labour law and tax law in each market
• Intellectual property: designs are copied by other manufacturers and designers
• Customs valuation rules applied inconsistently by national authorities

Three rows of the grid rest on the group's own documents rather than on the report's judgement. Political: the 2022 annual report lists political and social instability in production and sourcing markets among the group's principal risks and names trade intervention, meaning customs duties, textile quotas and embargoes, as a risk to purchasing costs (H&M Group, 2023); the group's supplier list names China and Bangladesh as its largest production markets for clothing (H&M Group, 2026b). The UK, where the launch is planned, is not where that risk sits. Economic: net sales of SEK 228,285 million in the 2025 financial year, up 2 per cent in local currencies (H&M Group, 2026a), against UK consumer price inflation of 5.4 per cent in the twelve months to December 2021, the month the report was written (ONS, 2022). Legal: the same annual report notes that customs authorities do not take a consistent approach to valuing goods traded between related companies, even though the WTO rules they apply are the same (H&M Group, 2023). For a marketing plan the political and legal rows matter in one way: they raise the landed cost of a product made in Asia and sold in the UK, which is why the price section later holds the standard pair inside H&M's existing accessory pricing rather than above it.

For the same six factors applied to H&M's closest rival, see our Zara PESTLE analysis and VRIO sample.

SWOT Analysis of H&M

H&M's strengths are scale, merchandise turnover, e-commerce and long-term supplier relationships. Its weaknesses are a long outsourcing chain in Europe and Asia and a fast-fashion model that follows trends set by others. The opportunities are cosmetics, third-party marketplaces and Asian growth. The threats are Zara and the other fast-fashion rivals, rising operating costs, trade intervention and a shrinking store estate.

SWOT analysis of H&M

Helpful Harmful Internal

Strengths Internal, helpful

• A design-to-store cycle short enough to follow the catwalk within a season
• 4,101 stores; the H&M brand trades in 81 store markets and 61 online markets
• Long-term supplier partnerships run through production offices in the sourcing markets
• E-commerce that carried sales while stores were closed in 2020 and 2021

Weaknesses Internal, harmful

• A long outsourcing chain across Europe and Asia
• Fast fashion follows trends set by designer brands rather than setting them
• Volume and speed leave less time for review, as the 2018 advertisement showed

External

Opportunities External, helpful

• Diversification into cosmetics
• Selling through third-party marketplaces
• More scope in Asian and other emerging markets

Threats External, harmful

• Rivals on the same ground: Zara, Primark, ASOS and others
• Rising operating costs
• Trade intervention: customs duties, quotas and embargoes, with tariff costs expected to rise in 2026
• A shrinking estate: 152 fewer stores in FY2025

The figures in the grid are the group's own. It had 4,465 stores in 78 markets at 30 November 2022, when the report was written, and 4,101 at 30 November 2025 (H&M Group, 2023; H&M Group, 2026a). The 2022 annual report describes a supply chain built on long-term partnerships with suppliers, reached through production offices in the sourcing markets, and lists trade intervention among the risks to purchasing costs; the FY2025 report adds that the impact of tariff costs was expected to increase further in the first quarter of 2026 (H&M Group, 2023; H&M Group, 2026a). The competitor names are the report's own list of the retailers competing for the same customer in 2022, not a company statement.

Cost-effectiveness across a wide product range, and a fast-fashion model that can move a design from catwalk to store within a season, are the two things that have made H&M work commercially. Against that sit reputational risks the brand has created for itself. The clearest example is the January 2018 advertisement, which first appeared on the British version of the retailer's website, showing a black child modelling a sweatshirt reading "coolest monkey in the jungle". It was widely condemned as racist. H&M removed the image and said, "We sincerely apologize for offending people with this image of a printed hooded top", adding that it would be "reviewing all our internal policies accordingly to avoid any future issues", although it continued selling the hooded top online outside the United States at that point (Thomas, 2018). One consequence was commercial rather than reputational alone: the musician The Weeknd, who had collaborated with the brand, said he would no longer work with it. For a marketing report the point is not the apology but the mechanism: a brand whose proposition is volume and speed carries a higher chance of a design reaching the market without proper review, and one such image costs more in reputation than the range earns in a season. A related weakness is that the design function follows new trends rather than reworking existing lines, which keeps the pipeline full but leaves little that is distinctly H&M.

For a second fast-fashion comparison written to a UK brief, read our Boohoo and Next customer journey sample.

Competitive Advantage (USP) of H&M

The unique selling proposition (USP) of H&M among the fast-fashion groups is fashionable clothing at an affordable price, produced on a design-to-store cycle short enough to follow the catwalk within a season. Scale carries it: net sales of SEK 228,285 million in the 2025 financial year and 4,101 stores (H&M Group, 2026a). Inditex, which owns Zara, is H&M's closest competitor. Designer collaborations add the differentiation that price alone cannot. The Sabyasachi x H&M collection with the Indian designer Sabyasachi Mukherjee launched on 12 August 2021 after a pandemic delay, with womenswear in selected stores and online and menswear online only (H&M, 2021); a collaboration of that kind earns coverage the brand would otherwise have to buy.

Porter's Five Forces Analysis for H&M

Competitive rivalry is the strongest of the five forces for H&M, with Zara, GAP, ASOS and Forever 21 all competing on the same ground. The threat of new entrants is rising. Supplier power is low because the group buys from 554 suppliers in 969 factories (H&M Group, 2026b) and none is hard to replace. Buyer power is limited by fixed tag pricing, and substitution risk sits mainly with reputational damage.

Porter's Five Forces for H&M

Competitive rivalry

Strength 5 of 5

• Zara is the closest competitor
• GAP, ASOS, Forever 21 and Abercrombie & Fitch also compete

Threat of new entrants

Strength 4 of 5

• Retailers moved into fast fashion after Covid
• GAP and ASOS are the named examples

Bargaining power of suppliers

Strength 2 of 5

• 554 suppliers and 969 tier 1 factories in Europe, Asia and North America (January 2026)
• Long-term partnerships; the retailer, not the supplier, owns the design

Bargaining power of buyers

Strength 1 of 5

• Fixed tag prices include the internal taxes
• Supply and distribution run in house, skipping third parties

Threat of substitutes

Strength 2 of 5

• Hoodies and knitted sweaters can be substituted
• Reputational damage is what drives the substitution risk

Rivalry is the force that sets H&M's pricing and range, which is why the launch plan in Part 2 competes on versatility and a sustainability claim rather than on price: the biggest competitor, Zara, can match a price cut within the season, and a pair of sleeves that restyles an existing dress is harder to copy quickly than a lower tag.

How Does H&M Promote Their Products?

H&M promotes through a multi-channel mix: paid media advertising, email marketing, PR, affiliate marketing, social media and designer collaborations, alongside its own stores and e-commerce in 61 online markets. The competitive strategy behind the promotion is cost leadership combined with differentiation, so the message leads on affordable fashion and sustainability rather than discounting.

Current Marketing Strategy

H&M sells to consumers through its own stores and website, and through franchise partners in markets it does not operate itself: 253 of the group's 4,101 stores were run by franchise partners at 30 November 2025 (H&M Group, 2026a). The promotion mix is paid media, email, public relations, affiliate marketing and social media, with designer collaborations such as Sabyasachi x H&M (H&M, 2021) providing the moments that earn coverage without buying it. The competitive strategy underneath is cost leadership with elements of differentiation: the range is priced to be affordable, and the collaborations, the sustainability message and the store experience are what stop it being only cheap. Design is done by the group's own in-house designers and production is outsourced to suppliers in the sourcing markets (H&M Group, 2023), which is what makes a short design-to-store cycle affordable at that price.

A toy brand running the same multi-channel play, with a very different product cycle, is covered in our LEGO marketing strategy sample.

Current Market Position

H&M Group's market position is best read from its own audited accounts. Net sales rose from SEK 198,967 million in the 2021 financial year to SEK 228,285 million in 2025, and operating profit from SEK 15,255 million to SEK 18,395 million, but the path was not straight: operating profit fell to SEK 7,169 million in 2022, an operating margin of 3.2 per cent, and recovered in each of the next three years (H&M Group, 2026a).

H&M Group net sales and operating profit, FY2021 to FY2025

Chart data

Point (SEK bn)	Net sales	Operating profit
FY2021	198.97 SEK bn	15.26 SEK bn
FY2022	223.55 SEK bn	7.17 SEK bn
FY2023	236.04 SEK bn	14.54 SEK bn
FY2024	234.48 SEK bn	17.31 SEK bn
FY2025	228.29 SEK bn	18.4 SEK bn

H&M Group stores by region at 30 November 2025

Chart data

Item	Value (stores)
Western Europe	994 stores
Asia, Oceania and Africa	940 stores
North and South America	769 stores
Southern Europe	563 stores
Eastern Europe	478 stores
The Nordics	357 stores

The estate tells the other half. Stores fell from 4,801 in 2021 to 4,101 in 2025 while sales rose, so sales per store went up and the online share went with it. By region, Western Europe holds the most stores (994), then Asia, Oceania and Africa (940) and North and South America (769); the year's closures fell hardest in Asia, Oceania and Africa, down 105 stores, while the Americas were the one region to add stores (H&M Group, 2026a). That is the position a launch plan works from: in most markets the customer is reached online first, and a new accessory competes for page space more than for shelf space.

Brand Effectiveness and Market Growth

Brand effectiveness for a retailer of this kind is measured by whether sales grow without the margin being bought with markdowns. On that test the 2025 year is a fair result rather than a strong one: net sales fell 3 per cent in Swedish krona and rose 2 per cent in local currencies, gross margin held at 53.4 per cent, and operating margin rose to 8.1 per cent from 7.4 per cent, helped by a 4 per cent cut in selling and administrative expenses (H&M Group, 2026a). Market growth matters here for more than the revenue line: it decides the group's credibility with suppliers and landlords, how wide a supply base it can keep busy, and how much of the estate it can afford to hold open. The pattern the launch plan responds to is the one in the five-year series above: sales that peaked in 2023 and have eased since, and a profit line that only passed its 2021 level in 2024. A new product does not fix that on its own. It tests whether a sustainability-led accessory can sell at H&M's price point online, which is where the group's growth is.

How Is H&M Performing Now? Net Sales, Stores and Markets

H&M Group is earning a better margin from a smaller estate. In the financial year from 1 December 2024 to 30 November 2025, sales rose slightly in local currencies and fell in Swedish krona, operating profit grew, and the group closed more stores than it opened (H&M Group, 2026a).

H&M Group, financial year to 30 November 2025

Net sales

SEK 228,285m Up 2 per cent in local currencies.

Operating margin

8.1% Up from 7.4 per cent in FY2024.

Stores in the group

4,101 152 fewer than a year earlier.

H&M brand store markets

81

H&M brand online markets

61

H&M Group total stores, FY2021 to FY2025

Chart data

Item	Value
2021	4,801
2022	4,465
2023	4,369
2024	4,253
2025	4,101

That is a different shape of business from the one analysed above on 2020 to 2022 data. Net sales have risen from SEK 198,967 million in 2021, the operating margin has recovered from 7.7 per cent to 8.1 per cent, and the store estate has shrunk from 4,801 stores in 2021 to 4,101, a reduction of 152 stores in the 2025 financial year alone. At 30 November 2025 the H&M brand traded in 81 store markets and 61 online markets (H&M Group, 2026a).

For a marketing plan written today, that matters in one practical way: the physical estate is shrinking while the online footprint widens, so a launch plan has to carry more weight in digital channels than the 2022 plan set out in the rest of this report. What a plan led by digital channels looks like, from SEO and PPC to a content calendar and KPIs, is shown in our digital marketing campaign plan for a food delivery app.

Segmentation, Targeting and Positioning (STP)

Part 2 is the launch plan. The new product is a range of detachable sleeves. The target segment is women aged 25 to 34 in the UK, across middle and higher income groups, including students and brides, reached through demographic and then psychographic segmentation on interests and values. Positioning is by product attribute and benefit: a reusable accessory that restyles clothes a customer already owns.

Rationale for the New Product

The new product is a range of “detachable sleeves” inside H&M's existing womenswear range, not a new category. A launch inside an existing range is the lower-risk move: the customer, the price architecture and the channel already exist, and the accessory borrows all three. It is not risk free. An accessory that does not sell occupies page and shelf space a proven line would have used, and the first season's stock is bought before any demand is proven.

The rationale is that the product meets a demand the report can point to. Detachable sleeves are already sold on marketplaces such as Amazon and by independent sellers on Shopify stores. The 2022 bridal trend coverage describes "unusual sleeves with exaggerated detail and a variety of hem lengths including mini and midi styles", and the layering of detachable elements so that one outfit changes through the day (London and Teather, 2022). An H&M version brings that trend to the brand's price point.

Features of the Detachable Sleeves

Detachable sleeves, also sold as false or removable sleeves, are a pair of sleeves that fasten at the shoulder or upper arm rather than being sewn to a garment, so they can be worn with any sleeveless dress or top the customer already owns. The range in this plan has three features that the marketing mix builds on. Versatility: one pair restyles several garments, which is the reuse argument. Care: the sleeves are washable and can be carried folded, which matters for a product bought for occasions and worn again. Materials: the standard pair is specified in a recycled or regenerated fibre once the trials in the SMART targets are complete, and the group already reports 80 per cent recycled or sustainably sourced materials in its commercial products, including 32 per cent recycled, in 2025 (H&M Group, 2026c). A bridal variant, longer and in a sheer fabric, is the premium item in the range.

Identifying the Target Segment

The target segment is women aged 25 to 34 in the UK, across middle and higher incomes, including students and brides. The age band is where H&M's core fashion buyer already sits, and the report places the bridal variant in the same range so that one launch serves both buyers. Demand on both sides has the same cause. Customers want good quality, fashionable clothes at a lower price, and after 2020, when lockdown restrictions cancelled or shrank weddings, couples who rescheduled wanted an outfit that could change through the day without a second dress (London and Teather, 2022). Segmentation is demographic first (age, sex, country) and then psychographic: interests, values, and the attitude to sustainability that decides whether the recycled-fibre claim lands.

Targeting is through social media advertising to the age band, supported by print and out-of-home advertising in the launch cities. Positioning is by product attribute and benefit: a reusable accessory that gives a dress the customer already owns a new look, at H&M's price, and one that can be paired with garments from more expensive brands as well as with H&M's own.

Recommended Objectives and Goals (SMART Targets)

The launch plan sets four SMART targets: promote the range through social media and PR within three to six months; replace cotton with a comparable recycled or regenerated fibre within seven months of laboratory work; hold the product's cost base steady within one month by managing logistics and packaging; and add design variants within three to four months.

Marketing objectives are essential for a launch because they state what the product is for and how success will be judged. Setting the goals properly is what allows brand awareness, market share and sales to be developed and measured against a target rather than asserted afterwards. 

Table 4: SMART targets for the new product, detachable sleeves 

Those four targets set the operating plan, and their order matters. Awareness for the detachable sleeves range is built through social media and through H&M's existing customer base before any paid media is bought, because an accessory at this price cannot carry the cost of buying its own audience. Public relations work supports it at lower cost than advertising. The sustainability change, substituting a recycled or regenerated fibre for conventional cotton, is the element most likely to earn coverage on its own, which is why it sits on the longest timeline of the four.

The commercial case below is the student's own illustrative projection for the assignment, not a company figure and not a forecast. It is set out as three assumptions so that each can be challenged. A retail price of £19.99 for the standard pair. A first-year volume of 125,000 pairs, on the assumption that the UK launch is followed online by Germany, Turkey and India within the year. And a gross margin of 50 per cent, which is the order of magnitude a fashion accessory has to carry to cover markdown and returns. Those assumptions give first-year revenue of about £2.5 million and gross profit of about £1.25 million before marketing and distribution costs, which is a realistic size for one accessory line rather than for a division.

Two things are deliberately not claimed. Market share is not expressed in currency, because share is a percentage of a defined market and no published market size exists for detachable sleeves as a category; if the assignment requires a share figure, define the market first. And no profit figure is carried to the group accounts, because a single accessory line at this volume would not be material against the net sales reported in the 2025 section above. 

7 Ps of Marketing Strategy for H&M

The 7Ps for this launch are product, price, promotion, place, people, process and physical evidence. Applied to the detachable sleeves: a versatile accessory, priced for the mid-market with a premium bridal variant, promoted on social media and through PR, sold in H&M stores and online, aimed at fashion buyers and brides, made with recycled materials, and evidenced by transparent packaging.

The brief asked for recommended marketing strategies based on the application of the marketing mix to the chosen brand. Paul and Mas (2020) extend the mix to seven elements for international marketing, product, price, promotion, place, people, process and physical evidence, and those seven organise the plan below. 

Product

The product is a pair of detachable sleeves in a standard version and a bridal version. Its competitive point is compatibility: it works with garments the customer already owns, from H&M or from anyone else, which makes it an add-on to the existing wardrobe rather than a replacement purchase. The range launches narrow, and the SMART target on design variation widens it with new designs, patterns and finishes within three to four months, once the first season shows what sells. The bridal version is the one item in the range that is made to the customer's measurements. 

Price

The illustrative price is £19.99 per pair for the standard range, with a higher price for the bridal version, which is customised to the customer's requirements. The intention is that the standard pair sits inside H&M's existing accessory price architecture rather than above it, because the brand's proposition is affordability and a premium price on an accessory would contradict it. Packaging is specified in recycled material, which supports the sustainability claim at little unit cost. 

Promotion

Promotion is social media first: posts and paid placements on Instagram, Facebook and Twitter to the 25 to 34 band, with the sleeves shown on garments the customer already owns rather than on new ones, because that is the use case. Public relations work follows, with the recycled-fibre story placed with the fashion and bridal titles of the kind cited in the STP section. For an accessory launched mainly online, the product page and the feed are the promotion: the page has to say in two lines what the sleeves fasten to and what they are made of, and the feed has to show them worn. Paul and Mas (2020) treat promotion as the element that decides whether a developed product is found at all, and that is the test here. 

Place

The range would sell through H&M's own stores and its e-commerce operation, with the weight on the second. At 30 November 2025 the H&M brand traded in 81 store markets and 61 online markets, and the estate had shrunk by 152 stores in the year (H&M Group, 2026a). The launch is in the UK, where the target segment is defined; the three further markets in the illustrative volume assumption, Germany, Turkey and India, are reached online before they are reached by a shelf, if the range is rolled out beyond the UK at all. That has a practical consequence for the product: it has to photograph well and describe well in two lines, because most buyers will never handle it before they pay for it. 

People

Two groups, and they need different service. The first is the buyer aged 25 to 34 who restyles clothes she already owns, which is the segment the STP section defines; she buys from a product page and wants the fibre and the care instructions in the description. The second is the bride, who buys once, at a higher price, months ahead, and wants sizing and fabric handled in person. Staff training for this launch therefore only matters in the stores that carry the bridal variant. 

Process

The process runs design, fabric selection, fibre trials, manufacture and packaging. One step has a timeline attached to it: the seven months of laboratory work in the SMART targets above, testing handle, durability and wash performance before a recycled or regenerated fibre replaces conventional cotton. Packaging is specified in recycled material in the same pass, so the sustainability claim covers the box as well as the product, which is what stops it reading as a sticker. 

Physical Evidence

For an accessory the physical evidence is the packaging and the product page, and both should carry the same detail: the fibre used, where it was made, the care instructions, any allergen information, the manufacturing date and the price. That is the part of the mix a customer can check before buying and again after it arrives, which is what turns a sustainability claim into something falsifiable rather than a slogan. 

Conclusion

H&M is a global fashion retailer that competes on price and speed rather than on design leadership, and this report has treated that as the constraint on the launch rather than as something to advertise. The position is not one of high profitability. The operating margin for the 2025 financial year was 8.1 per cent, the estate shrank by 152 stores in that year, and operating profit fell to less than half in 2022 before it recovered (H&M Group, 2026a). It competes with Zara, ASOS, Primark and others on the same ground, and none of them is easy to out-price.

That is the case for the detachable sleeves range, and it is also the limit on it. A low-cost accessory that restyles clothes a customer already owns fits the proposition, carries the sustainability argument on a recycled or regenerated fibre, and needs digital distribution more than shelf space, because online is the part of the estate that is growing. The recommended strategy therefore has two parts that pull the same way: sustainability in the product, through the fibre substitution, and in the packaging, so the claim covers what the customer holds as well as what she wears; and a range that widens with customisable options once the first season shows what sells. On the illustrative assumptions set out above it is a line worth about £2.5 million in its first year, not a division, so it should be judged as a test of the sustainability message as much as a revenue project.

You may also like reading our sample on the global marketing strategy of SMEs, which applies the marketing mix to smaller firms entering international markets.

Need help with a similar marketing strategy assignment? Send us the brief, the module and the deadline on WhatsApp and we will tell you what we can do.

About this version. The report was submitted in early 2022 on data to that year. The company figures on this page were updated in September 2026 from H&M Group's full-year report for the financial year to 30 November 2025 and are labelled by year where they appear; the commercial figures in the launch plan are the student's illustrative assumptions, not company figures.

Sources

• H&M, 2021. H&M Reveals New Launch Date for Collaboration with Celebrated Indian Designer Sabyasachi. Press release, 9 August 2021. Available at: prnewswire.com [Accessed 24 September 2026]
• H&M Group, 2023. H&M Group Annual and Sustainability Report 2022. Available at: hmgroup.com (PDF) [Accessed 24 September 2026]
• H&M Group, 2026a. H & M Hennes & Mauritz AB Full-year report 2025 (1 December 2024 to 30 November 2025). Available at: hmgroup.com (PDF) [Accessed 24 September 2026]
• H&M Group, 2026b. Supplier list. Figures correct as of January 2026. Available at: hmgroup.com [Accessed 24 September 2026]
• H&M Group, 2026c. About us. Available at: hmgroup.com [Accessed 24 September 2026]
• London, B. and Teather, C., 2022. 6 wedding dress trends to expect in 2022, from ethereal Princess silhouettes to dramatic sleeves. Glamour UK, 29 April 2022. Available at: glamourmagazine.co.uk [Accessed 24 September 2026]
• Office for National Statistics (ONS), 2022. Consumer price inflation, UK: December 2021. Available at: ons.gov.uk [Accessed 24 September 2026]
• Paul, J. and Mas, E., 2020. Toward a 7-P framework for international marketing. Journal of Strategic Marketing, 28(8), pp.681-701. doi.org/10.1080/0965254X.2019.1569111
• Thomas, L., 2018. H&M slammed as racist for 'monkey in the jungle' hoodie. CNBC, 8 January 2018. Available at: cnbc.com [Accessed 24 September 2026]