H&M is a global fashion retailer known for affordable styles. This marketing plan outlines strategies to help H&M maintain its rank and grow. It analyzes H&M's current target audience of fashionable youth aged 16-25, and identifies potential new audiences like women of all sizes who want inclusive sizing and more sustainable materials. The plan recommends expanding target audiences to capture more women shoppers and address perceptions of lack of size availability and eco-friendliness. Expanding audiences could help H&M as competition in affordable fashion increases.
ZARA's external and internal enviroment. This presentation covers the main characteristics of ZARA, a general view of fast fashion indystry, Porters' Five Forces Analysis, competitors' external environment as well as a complete internal analysis regarding:competences, capabilities, resources, competitive advantage,value chain and outsourcing.
A critical Analysis of the famous Brand H&M.
IN this we have tried our best to cover each and every point of the H&M company, in it we cover the description, establishment, objectives, missions, goals, organizational structure, SWOT analysis, leadership, decision making of the company.
we hope that it will help you in your projects.
ZARA's external and internal enviroment. This presentation covers the main characteristics of ZARA, a general view of fast fashion indystry, Porters' Five Forces Analysis, competitors' external environment as well as a complete internal analysis regarding:competences, capabilities, resources, competitive advantage,value chain and outsourcing.
A critical Analysis of the famous Brand H&M.
IN this we have tried our best to cover each and every point of the H&M company, in it we cover the description, establishment, objectives, missions, goals, organizational structure, SWOT analysis, leadership, decision making of the company.
we hope that it will help you in your projects.
Students in teams of 3 or 4 select a brand/product/service/organization they believe they are the target of and build an integrated communications plan from the brands’ point-of-view.
This report provides an analysis regarding the identification and evaluation of the strategies that H&M might adopt for increasing its investments and growth by utilizing BCG model and for prioritizing the investments by exploiting GE McKinsey, Ashridge model and the analysis from the strategic review. Moreover, for the growth of the company, among the available frameworks, the one of Blue Ocean Strategy was implemented because a free space of innovation was identified. Furthermore, H&M’s internationalization opportunities were found by assessing the attractiveness of the market through PESTEL analysis, CAGE framework and competitive characteristics. Finally, the report provides a detailed analysis for areas of internal improvements, what the company should plan for developing them and how is going to supervise the process.
Burberry group PLC is one of the leading manufacturers of high-end luxury goods. They specialize in selling outwear, accessories, fragrance, clothing for women, men and children. The iconic checkered or tartan pattern of Burberry is a distinctive style adopted by the company. Originally founded in 1856 and was bought by Great Universal stores PLC in 1955 (Phan, Thomas and Heine, 2011). Company has managed to sustain and thrive. In 2006, Angela Ahrendts took over the company from Rose Bravo. She brought in a number of innovative marketing strategies of the company. During Angela Ahrendts a “Multi Dimensional strategy” was adopted in order to make sales. According to a 2013 report net asset value of Burberry was estimated to be 4.34 Billion (Johansson, 2014). In 2014 Christopher Bailey Took over the company and has been presiding over the company as CEO (Ward, and Dahl, 2014). The thorough marketing and brand strategy made by Burberry is explained in detail in the following.
The marketing and advertising arms race to create emotional appeal, generate buzz and move up brand valuation league tables, is creating a widening gap between brand strategy and business strategy. In this environment some of the once coolest and iconic brands are faltering at a game they once dominated. The key question for businesses today, is how to expose such strategic blind spots and remain relevant in the face of an evolving marketplace? This article explores one methodology and framework into just how that can be done.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
3. Executive Summary
H&M is the second largest Fashion-Fast company that provides products and services all over the world at an
affordable cost, with quality material. As time technology and more competitor evolve, H&M must continue to work
hard to maintain their company's mission. It is important to maintain loyalty to the brand's mission, as well as be able to
keep up with the changes without damaging the company. That being said, there are many ways, H&M can improve its
marketing in order to maintain its rank or even grow to be something bigger.
Below you will find an analysis that develops into a plan for H&M to enhance its marketing.
4. Company Overview
Hennes & Mauritz, also know as H&M all began in 1946. Swedish entrepreneur and founder
Erling Persson went through the United States of America at 30 years old. This then led to the
idea of offering the world fashion and design in a new and affordable way. Persson moved to
take action and the store is then created for women called Hennes, Swedish for “Hers”, in
Sweden in 1947 (H&M Group, 2021).
The company upgrades in 1968, to start offering men’s and also children’s clothing when Hennes
acquired the Stockholm-based hunting apparel and fishing equipment retailer Mauritz Widforss
(H&M Group, 2021). Making Mauritz the partner of the company, the name is changed to
Hennes & Mauritz.
By 1969, Hennes & Mauritz had expanded and had now opened up to 42 stores. (H&M Group,
2021) During this timeframe, international growth begins and they begin opening stores all over
the world to offer this sustainable fashion. By 1973, Hennes & Mauritz expand to add more
products and services by partnering with other second-hand companies. Due to the major
growth, it was then in 1974 when Hennes & Mauritz was listed on the Stockholm Stock
Exchange. The same year, the stores are rebranded with the abbreviation “H&M”. (H&M Group,
2021)
5. Over time H&M has continued to grow due to its core values. “ We are one team, we believe in
people, entrepreneurial spirit, constant improvement, cost-conscious, straightforward and
open-minded, and keep it simple.” These are essentially the principles that guide the operations
and activities around H&M (H&M Mission Statement 2022 | H&M Mission & Vision Analysis,
2021). These are portrayed through their mission and vision statement.
H&M's mission statement is “to drive long-lasting positive change and improve living conditions
by investing in people, communities, and innovative ideas.” The company has a commitment to
innovation and affordability by the company. Mentioned in H&M Mission & Vision Analysis,
2021, it breaks down how the mission statement comprises the listed main parts:
Transforming shopping
Improving lives
H&M's vision statement is “to lead the change towards circular and renewable fashion while
being a fair and equal company.” As a fairness and equality company, H&M demonstrates these
qualities through its welcoming nature, passion for sustainability, and price competitiveness.
Mentioned in H&M Mission & Vision Analysis, 2021, It has the following parts:
Lead the change
Fair and equal
6. Now H&M is one of the most globally and internationally known companies that is partnered
with many different other companies as well as competing with the highest in the market. H&M
became the first big fashion brand worldwide to provide detailed information on product-level
materials and the supply chain (H&M Group, 2021).
H&M provides retail of clothing, accessories, footwear, cosmetics, home textiles, sportswear,
and other apparel for men, women, and kids. Brands H&M, COS, Monki, Ω Weekday, & Other
Stories, Cheap Monday, H&M Home, and ARKET: all owned and operated by H&M.
MARKET RESEARCH
Target Audience
H&M audience influences include cultural, social, personal, and psychological. The target
customers of H&M belong to the group of fashionable and trendy consumers who see shopping
as a social activity that provides pleasure in their daily life, and who wants to follow the trends
without investing a lot of money. Its goal is to target the working class, lower-middle-class, and
students. They particularly target the youth segment from the age of 16-25. (Saraswat, 2022)
7. Competition :
H&M shares the market with many other companies that share the same product, services, and
goals. Currently, with the growth of the internet, it has even expanded to more online
competitors. Some store-based competitors include the following: GAP, Forever 21, Zara. The
online-only stores: Amazon, Fashion Nova, SHEIN etc. As yes, having a store and online front
can help with growth, the rate of economy at this time in 2022, the online-only stores are starting
to make a come up in the market.
Financial Market
H&M strives for affordability, however, due to the economic impact, H&M has been having to
higher its prices in order to keep up with its goals. As reported By Ringstrom (2022) on Reuters.
The world's second-biggest fashion retailer swung to a pretax profit of 282 million crowns ($30.5
million) in its first-quarter from a 1.4 billion loss a year earlier when nearly half of its stores
were closed by the pandemic. According to research, the goal for 2030 is to double sales while
at the same time halving our carbon footprint. Profitability is to exceed 10 percent over time. (H
& M Hennes & Mauritz AB Full-Year Report, 2022)
8. Image taken from H & M Hennes & Mauritz AB Full-year report
Marketing Strategies
H&M markets using multiple sources and tactics. Originally it started with Traditional Marketing
such as the following: TV Commercials, Billboards, Magazines, or Ads. They still continue to
use them, however, they have grown to use the source of the internet since it is popular in the
new generation. H&M uses Influencer/Campaign Marketing. Throughout the 1990s, models
from “The Big Six” – Elle Macpherson, Cindy Crawford, Naomi Campbell, Claudia Schiffer,
Christy Turlington, and Linda Evangelista – are used in H&M’s campaigns (H&M Group, 2021).
The known Marketing Campaign is H&M For All. Supermodels are used next to famous actors
and artists wearing H&M clothes so that fashion speaks for itself, as the H&M group would say.
9. In 1998, H&M starts offering online shopping through its website where they constantly keep it
updated internationally. Through their website, you can find their social media, in which they use
Social Media Marketing by using their influencer, getting people to tag them, updates,
promotions, new fashion and so much more. This can be found easily and conveniently, as the
target market is trending when it comes to social media. H&M is known to stay up with the
trends. These include the following social(s) : Facebook, Instagram, Twitter, Pinterest ,Youtube,
SnapChat, Google Plus, LinkedIn, and Tiktok.
E-Mail Marketing is also used by them. As if you sign up with your email via purchase or
subscription, they will send you updates on news settlers, upcoming promotions/sales, and new
merchandise (Saraswat, 2022). In addition, H&M Loyalty program consumers have the
opportunity to sign up for an online profile on H&M’s website and through a mobile application,
that allows them to rack up points and rewards.
10.
11. H & M Target Audience
IMC Campaign - Chantel Beynon
07/10/2022
Current Target Audience
H&M audience influences include cultural, social, personal, and psychological. The
current target customers of H&M belong to the group of fashionable and trendy consumers who
see shopping as a social activity that provides pleasure in their daily life, and who wants to
follow the trends of social media influences without investing a lot of money. Its goal is to target
the working class, lower-middle-class, and students. They mainly target the youth segment from
the age of 16-25. (Saraswat, 2022) . This is still a good audience, however, over time, H&M has
down trended due to other high-trending fashion that is affordable. Women typically shop at an
average of 6-8 stores to find all of the perfect items they need. Yes, men and kids need clothing,
however no matter whether single, married, or other, women are the top shoppers when it comes
to affordable clothes. They love to shop for their kids, their men, families, and themselves.
Potential Target Audience
As reported by Saraswar (2022), research was done by taking public poles and they
found the following market perceptions:
● 82% of brands are not inclusive all size clothing
● 65% feel insecure due to the lack of size availability in brands
● 55% of users are not aware that H&M has all sizes
12. From the existing research, young women, of all shapes and sizes, always want to stay on
fashion trends. Although some, not all have been loyal to constantly upgrading their closets with
H&Ms new affordable items and are worried about the eco-friendly materials. Because H&M
runs many small low-cost stores, it's forced to find the most cost-effective solutions. This
industry is not only harmful to the environment, but it’s also extremely exploitative. The rapid
cycle of fast fashion relies on an unlimited supply of cheap labor in countries where workers are
treated poorly and paid very little for long hours or dangerous conditions, and if brands don't care
about this, we as consumers should care and condemn such atrocities. (Batista, 2022). This also
gives them a hard time keeping up with the fashion trends and could possibly lead them to
provide the wrong message when they drop a clothing line, such as their “ Monkey Line”. You
can find more information on the research from (We visited an H&M store and saw everything
that’s wrong with the brand, 2018).
H& M’s approach should be a subdivision of a market or population into segments with
defined similar characteristics. Segments by class: H&M should continue to offer high fashion at
low prices, typically targeting the working class, lower middle class, and single students.
The most popular segment is women aging between 15 and 30 years, either living on their own,
still with the family, or trying to make it through school and/or a job. This is commonly known
now as Millennial and Gen Z , ambitious with high buying power, and social media influences
via TikTok, Youtube, and Pinterest.
13. Customer Profile
This is JuJu Nickole, an ideal consumer H&M would like in
order to become a loyal shopper of theirs. JuJu is a 24-year-old
entrepenur. She plays basketball, supports multiple different
clothing brands online, and is a content creator. She is known
for fashion, cultural inspiration, and helping others. It is her
passion to help spread awareness and grow together for everyone to be successful.
Many young talented teenagers look up to her, but not only that many people her age and
older look to her and work with her when it comes to Social Media. She has a great following on
social media, especially Instagram, where most fashion is sought after. She often travels in order
to do interviews with different athletes, influencer(s), and creators all over the world. JuJu is
from a mixed cultural family, however, is a strong influence on the Black Lives Matter
community. Speaking of family, she loves to spend time with her family and gift giving. Her
family is always supporting her in everything she does.
Juju's fashion sense can range from classy, to laid back, to business, which is a
great look for H&M. As she already has a high profile, and works with clothing designers, Ju
being a customer would be good word of mouth for people who need plain clothes, clothes for an
event, or even to get clothing designers to partner with H&M to put their designs in the store.
14. GOAL: To increase brand awareness by remarketing the brand's
reputation and loyalty, solely focused on the target audience of
different genders, different cultures, different classes, and generations
ranging from Gen Z and Millennials.
Objectives and Strategies
● (1) Increase brand awareness to reach 70% of the target audience in 12 months
1. Digital and mobile media channels evolving worldwide, by using Social Media
Influences over current Celebrities to advertise their core value(s) and brand presence
2. Include open marketing events with participation from consumers to support Marketing
Campaign – H&M For All and stay up-to-date in fashion styles
3. Focus on improving the website’s quality both technically and content-wise in order to
help it rank higher during the search
4. Update(s) in email marketing and incorporate SMS marketing better reach to the target
audience
● (2): Increase online sales and promotions by 25% in a quarterly period.
1. Continue expansion into emerging markets internationally online – expanding online
shopping internationally
2. Up-to-date loyalty programs restructured on spending habits and generation's income
15. 3. Improvement in Search Ad keywords in order to stay in line with competitors, such as
Fashion Nova, SHEIN, Amazon, and more.
4. Improve cost position by alternative emphases for differentiation: cost vs. quality vs
demand
16. Creative Strategy
Creative Strategy Statement
- H&M, the world’s shopping outlet that provides fashion for ALL to feel a part of a
bigger creation.
Rejected Statement(s):
1. H&M is a safe place to find your needs and feel yourself!
2. Inspired by the multiple cultures of the world, H&M is always looking to provide the best
for US!
3. A place where you can find sustainable and affordable fashion to express yourself freely
in multiple styles for all genders, sizes, cultures, and generations!
Tag Line: “ One World, One Objective!”
17. What are we advertising?
We are advertising the re-branding of the company for it to support its current mission of
providing low-cost but still high-quality clothing that makes people feel good about their life
choices.
Whom we are talking to?
Designed for young, fashion-conscious urban consumers, typically in the Gen Z and Millenial(s).
What do they currently think?
Consequently, H&M's current audience has gained some criticism from proponents of
sustainable and ethical consumption. Additionally, H&M customers lack awareness of what
collections are provided in connection to self-image and diversity.
What would we like them to think?
H&M would like their customers to know they practice the ethical behaviors of being sustainable
and environmental. One should feel like they can navigate their life, be free with who they are,
and even find who they are.
What is the single most persuasive idea we can convey?
H&M values its people and its planet.
Why should they believe it?
H&M has been known to be the second most successful Fast Fashion company, and has
maintained its image of affordable clothing. Every business must improve over time and that is
what H&M has done by taking the critics and re-branding itself.
Are there any creative guidelines?
H&M will focus on personality and lifestyle edge in order to create more connections to the
youth. This will be done through multiple media marketing channels, re-branding of the image
of H&M, and assuring to listen to what the consumers want and need to show awareness.
Creative Brief
18. ❖ Internet Ad(s) :
Budget - The average cost to reach 1,000 people with online advertising Ranges from
$3-$10, while the average cost to reach 1,000 people with traditional/offline advertising is $22
and up (Team, 2021).
Communication - It is possible to run both text and visual ads through Serach Ads via
Google platform. By using brand key works and non brand key words, it could help the
conversion rate of searches for H&M.
Appeal - It will target audience based of the Search Engine Optimization, linking to other
things like Youtube, Instagram, and more in order to H&M’s add to pop up in relation to their
audiences other interest .
❖ Social Media Marketing: Influencer:
Budget - Influencer marketing investment is expected to reach $15 billion, giving almost
twice more oxygen to influencers to capitalize on the rising demand. The cost can fluctuate
depending on the platform you use. Instagram post rates range from $10, posted by Nano
influencers to $10k and more, posted by Mega influencers. YouTube influencer marketing might
expect to pay $50-$100 for every 1,000 views. For Facebook, you might pay $25 for the services
of an influencer with 1,000 followers, $250 for one with 10,000, and so on. (Influencer
Marketing Costs (2022), 2022)
Communication- Specially we want to use influencer marketing The goal is to use their
top platforms while growing their others, primarily focusing on Instagram, Facebook, and
YouTube; using reel(s) specifically.
Appeal - Reels are quick short video(s) that people scroll through, which often is filled
with a persons interst. Using influencers that are from diverse backgrounds help to connect with
the youth and spread awareness of negative female body stereotypes, fashion, self-image, social
cause, etc (Saraswat, 2022).
❖ SMS Marketing:
Budget - Campaign costs and divide by the number of text messages you send. the actual
cost of text marketing is very low with industry estimates sitting at just pennies per text. (SMS
Marketing Costs & ROI | SMS Marketing Guide, 2022)
Communication- Email communication is already used to spread the updates for H&M
sales, and promotions. However, adding SMS text messages will have a higher rate for contact
with the youth (Saraswat, 2022).
Appeal - People ages 15- 30 are always using their phones. According to research, 98%
of all text messages are opened and 95% are read and acted upon within three minutes (SMS
Marketing Costs & ROI | SMS Marketing Guide, 2022).
Promotional Mix
19. Conclusion
H&M is a part of the enhancement of technology and social marketing; in which
they are able to take advantage of in order to expand their brand awareness in
order to grow. From their online stores, they mixed marketing with social, and
being focused on their brand, they will grow a large number of followers that
will be influenced and share their information. Using integrated marketing
properly, helps H&M interact and connect to their consumers, increase brand
recognition and improve brand loyalty. Increasing H&M's revenue can be
achieved by communicating with their existing and new customers.
18
19
20. References
Agarwal, V. (2021, September 25). Marketing Strategy of H&M: Selling Passion for
Fashion. MarqueEx.
https://marqueex.com/marketing-strategy-of-hm-selling-passion-for-fashion/
Arangarajan, A. (2022, April 3). H&M Marketing Strategy - How H&M became the
second largest Global Clothing Retailer. StartupTalky.
https://startuptalky.com/h-m-marketing-strategy/
Batista, C. (2022, June 27). The Worst Of the WORST Fast Fashion Brands. The Eco
Hub. https://theecohub.com/the-worst-of-the-worst-fast-fashion-brands/
Business Bliss Consultants FZE. (November 2018). H&M Marketing Analysis. Retrieved
from https://ukdiss.com/examples/marketing-analysis-h-and-m.php?vref=1
H & M Hennes & Mauritz AB Full-year report. (2022, January 28). H&M Group.
https://hmgroup.com/news/h-m-hennes-mauritz-ab-full-year-report-14/
H&M Group. (2021, January 12). History. https://hmgroup.com/about-us/history/
H&M Mission Statement 2022 | H&M Mission & Vision Analysis. (2021, January 27).
Mission Statement.
20
21. https://mission-statement.com/hm/#:%7E:text=H%26M%20mission%20statement%20is
%20%E2%80%9Cto,Transforming%20shopping
H&M Story - Profile, History, Founder, CEO | Industry Companies | SuccessStory. (n.d.).
Success Story.
https://successstory.com/companies/fabulous-fashion-for-all-and-fashion-with-a-conscien
ce-profile-on-hm
Influencer Marketing Costs (2022). (2022, May 5). Business of Apps. https://
www.businessofapps.com/marketplace/influencer-marketing/research/influencer-
marketing-costs/
Morrow, S. (2022, May 3). Cost of Marketing: What Is the Average Budget?
Legalzoom.Com.
https://www.legalzoom.com/articles/cost-of-marketing-what-is-the-average-budget
Ringstrom, A. (2022, March 31). H&M flags higher prices after profit falls far short of
expectations. Reuters.
https://www.reuters.com/business/retail-consumer/hm-profit-lags-expectations-pandemic-
investments-weigh-2022-03-31/#:%7E:text=The%20world’s%20second%2Dbiggest%20
fashion,were%20closed%20by%20the%20pandemic.
Saraswat, Y. (2022, February 16). A Detailed Case Study on H&M - 360 Marketing
Analysis. IIDE. https://iide.co/presentations/case-study-on-hm/
21
22. Sorensen, A. (2021, July 14). Mind the Gap: 4 Key Strategies for Marketing to
Millennials and Young People. Blog. https://www.boostability.com/content/mind-the-gap-
four-key-strategies-for-marketing-to-a-younger-generation-of-clients
Team, T. D. (2021, March 29). Online Advertising Costs In 2021. Top Draw Inc. https://
www.topdraw.com/insights/is-online-advertising-expensive/#:%7E:text=We’re%
20talking%20about%20the,advertising%20is%20%2422%20and%20up
We visited an H&M store and saw everything that’s wrong with the brand. (2018, March
27). Business Insider Nederland.
https://www.businessinsider.nl/why-hm-business-is-struggling-photos-2018-1?internation
al=true&r=US
22