H&M Mission and Vision Statement Analysis

Introduction

The prominent H & M stores date back to 1947, when Erling Persson launched a women's clothing store in Västerås, Sweden. By 1950, business was booming, and their clothing soon became popular among teenage girls. Later, in the early 1960s, H&M launched a menswear section that shared the same principle as the women's range: offering affordable quality products. Today, H & M operates more than 5000 stores across the continent with an estimated market value of $ 12.4 million.

Like other thriving brands, H & M has a vision, mission, and core values that act as the pillars of its company. Its goal is to provide fashionable, quality fashion at prices that suit most customers' budgets. This article depicts the company's vision statement and empathizes with the need to refine the brand as a revolutionary retailer of reasonably priced and renewable fashions. In addition, it underscores H & M's mission statement and the matchless impact the company delivers through optimum services and products. Finally, the core values enhance the feat by inspiring superior performances and mind-sets from the company's stakeholders.

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H&M Vision Statement

The vision statement boils down to "creating the most exciting, varied, and individual fashion offers at the best possible prices". Through this motto, they intend to make fashion universally accessible to allow all kinds of people to make personalized style statements. The following components in the vision statement reflect the long-term objectives this fashion brand hopes to accomplish.

Fairness and Equality

The brand promotes a sustainable planet with responsible manufacturing and business practice. Also, it offers long-term employment opportunities, supporting the communities in which they operate while providing quality products at affordable prices.

Spearhead Change

H & M does not only retail, affordable, high-quality items but also spearheads change. From manufacturing to sustainability, they strive to impact both the environment and their consumers' lives. For instance, in 2021, the brand announced the permanent closure of more than 300 brick and mortar stores to accommodate the accelerating online sales.

With the pandemic prompting more internet interactions, H & M aspire to provide consumers with a unique, inspiring, and convenient shopping experience. As a result, they lead the fashion industry in intergrading online channels and enhancing digital investments in all outlets. This pioneering idea has revolutionized and transformed the brand's perception worldwide.

Embrace Environmental Friendly Fashion

The Swedish fast-fashion retailer, H & M, has been taking a stand for "fashion with a conscience" for quite some time now. This store embraces concepts of sustainability in all aspects of its business. From using recycled materials to creating products made out of more sustainable fabrics and dyes, they are doing all they can to help save our planet. They even have a list of brands that they work with that share the same values, including Stella McCartney and Vivienne Westwood.

H&M Mission Statement

H & M's mission statement refers to "make fashion accessible and enjoyable for all."

Unfortunately, high fashion has been a tall order for most people because of the exorbitant prices. H & M intends to revolutionize the situation by introducing quality at affordable rates through the following aspects.

Elegance and Comfort

The success of H & M's product range revolves around tailor-made, fashionable products and classics. The items are made as efficiently and cut with skill as possible so that you can find everything you need in one place. H & M clothing combines elegance and comfort with a large selection at reasonable prices.

Accessibility

H & M offers accessibility to a broader market by opening several branches and selling products that people can afford. Moreover, they invest in advertisements that spread a positive word about their products. By staying true to the brand values of being on-trend, innovative, consistent, and sustainable, H & M offers great styling and quality at affordable prices. This approach allows them to keep up with fashion trends while maintaining competitive pricing.

Embrace Diversity

Initially, H & M specialized in fashionable and affordable clothing for men, women, and children. In recent years, however, the company has expanded into multiple other markets to remain competitive. H & M has plans to expand its borders and go beyond the fast fashion industry with a diversification strategy that allows them to create a broader customer base.

The continuous adaptation to new trends enhances the brand's presence in the market significantly.

Core Values

This is the story of a company with a strong tradition that believes in accessible fashionable attires for all. The tale illustrates how a small shop in Stockholm became one of the world's most successful and recognized brands, touching diverse lives across different backgrounds through fashion. Amid several challenges in the industry, H & M manages to stay strong through the defining core values listed here.

Simplicity

Simplicity, trend-conscious and fashionable inspirations are at the core of H & M's values. Remember that the brand is most famous for its inexpensive clothing line and unique celebrity collections.

Open-mindedness

The H & M background is a story of individuality and a modern sense of cool. In short, H & M is all about people who want fashion on their terms. From inception, they have continuously embraced open-mindedness to different ideas and always sought solutions.

Cost consciousness

While most people strive to strike a balance in the current economic crisis, H & M prides itself on being the first low-cost, high fashion chain. It is still the clothing chain of choice for many people, especially students. Still, it attracts fashion-conscious young adults who enjoy its one-stop-shopping experience.

People-Oriented

The most crucial reason H&M is so successful is through proper client targeting. Most company diehards are young people who love fashion and constantly looking to change their look by buying new clothes. H & M understand the needs of their target audience and endeavor to satisfy them without losing value.

Entrepreneurship

H & M has a mission to operate sustainably and promote activities that benefit society. They believe in entering markets in which the company can add value and where they can help change consumer habits.

Teamwork through Diversification

It is no secret that H & M has experienced enormous success in recent years. The victory primarily originates from the firm's team-based approach to business, emphasizing collaboration and creativity within each department.

Mind Map

The mind map below is an effective tool for defining H & M's vision and mission statements. Using the mind map will help you organize the input of your entire organization into one clear, concise statement of purpose.

Key Takeaways

The secret behind H & M's vision, mission, and values statements is that they are more of a philosophy. As a result, the company has strong industry standards, which show commitment at all levels within the organization. In the process, they transform the customer experience by building a unified strategic framework and benchmarks. In the current strategy of H & M, they have committed to a new approach that aims to create an atmosphere where everyone gets treated equally regardless of gender, age, race, or religion.

The H & M Inc's report describes a comprehensive analysis of the brand's corporate statements. In short, the piece details the application of the company's vision, mission, and core values, plus a mind map that expounds on the element straightforwardly.

Importance of Downloading your Report in PDF

The positive aspect of incorporating a PDF mapping software is its user-friendly interface and affordability. Most impressive, the uncomplicated process accommodates both novices and established entrepreneurs. Download the PDF through PDFAgile software for a better and more user-friendly experience.