"Is H&M closed? The online store can't be found, and now even the physical store can't work?" Xiao Xu, who lives in the west of Hangzhou, passed by Yintai in the west of the city a few days ago, and was surprised to find that the facade of the H&M store was completely covered with surrounded.

　　In the past two years, every time H&M appeared in the public eye, it was almost always involved in negative news.

Is H&M really dead?

　　Most of the online channels are cut off

　　Offline stores have little business

　　The H&M of Intime in the west of the city is located at the intersection of Fengtan Road and Fuqiang Road, right at the entrance of the shopping center. "It can be said to be one of the best locations. It was there when Intime City opened." The area of ​​the store is quite considerable. There are two floors. The first floor sells women's clothing. In addition to women's clothing, there are men's and children's clothing on the second floor.

　　"I used to buy basic sports pants for less than 100 yuan, which is still a good deal." Xiao Xu said that in the past two years, he has rarely walked into this store.

Occasionally passing by and taking a look, the popularity inside is not very strong.

　　The reporter saw at the scene that the two-storey façade of this H&M store was indeed surrounded, with the words "upgrade and renovation, suspension of business" written on it, and it was not closed for business.

　　However, after a closer look, the store on the first floor seems to be divided into two, and on the right side of the entrance of H&M, there is a "Gaohe" sign.

Public information shows that Gaohe is a new brand of electric vehicles, with an average transaction price of 700,000 yuan, and the momentum is very strong.

In this way, it is certain that the business area of ​​this store has been reduced.

　　The reporter went to the H&M Federation of Industry and Commerce CC store on Yan'an Road to take a look. The store is open for business normally, but there are almost no customers in the store.

According to the information on H&M's App, there are currently 9 H&M stores in Hangzhou.

　　Online, except for H&M's own official website and App, it has almost been completely removed from the shelves. It has been no longer found on major e-commerce platforms, and H&M related stores cannot be searched on Baidu Maps, AutoNavi Maps, and Dianping. .

　　Its sub-brands will withdraw from the Chinese market at the end of the month

　　Tmall store is currently 30% off for 1 piece

　　Just two days ago, H&M's brand Monki announced on Tmall's flagship store that it will officially close the store on March 31.

The reporter asked the customer service of Tmall store about the situation, and the reply was: "Before April 1st, you can enjoy 7 days of no reason to return and exchange goods, please choose the size that suits you to buy, to avoid the situation that cannot be replaced due to size problems. If you sign for receipt If there is a quality problem with the product, please contact the online customer service in time." After April 1, the warehouse will not process exchanges but only returns.

At the same time, don’t forget to remind that you can get 30% off when you spend more than 1 item.

　　There are related reports that Monki's last offline store in China in Chengdu will also close on March 31.

At this point, Monki will completely withdraw from the Chinese market.

In fact, as early as 2020, Monki’s offline store in Hangzhou West Intime City quietly closed.

　　According to public information, Monki is a fast fashion brand under the H&M group that is partial to girls.

Monki entered Tmall and opened its flagship store in 2016, while H&M launched Tmall two years after it entered.

At that time, Monki came to China as an outpost of H&M to test the water online, and it was the performance of the Monki Tmall flagship store that gave H&M a reassurance to enter the Chinese online market.

　　As can be seen in H&M's latest financial report, the group's future plan for Monki is to develop online platforms in Singapore and Malaysia.

As of November 30, 2021, Monki has closed 25 stores worldwide, leaving only 98 stores remaining.

　　Tickets for the opening reception are hard to come by, and cooperation models will inevitably lead to panic buying

　　Fast fashion giants have also had unlimited popularity

　　Founded in 1947, H&M is the originator of fast fashion brands, and it is also an early fast fashion brand that entered the Chinese market.

After opening its first store in mainland China in Shanghai in April 2007, the Swedish clothing retailer has expanded rapidly in the Chinese market.

　　At the end of 2009, Hangzhou Baida opened its first store in Hangzhou at the time, and the grand opening of the store was still fresh in the memory of many people.

　　"I remember that the news that H&M was going to open a store in Baida was spread a week or two before the store opened. At that time, many people were looking for ways to get an invitation letter for the opening reception." Mai has been in the fashion circle of Hangzhou for many years. She went to the opening reception of H&M 100 stores that year, "Why do so many people want to go? The reason is very simple, it is equivalent to entering the store to visit the store earlier than ordinary consumers, not only discounts, but also grabbing Just launched a collaboration between H&M and Jimmy Choo."

　　In a short period of time since then, H&M has opened a number of stores in Hangzhou.

Not only that, every time a designer collaboration model is launched, it can attract countless fans to queue up to buy it - Lanvin for H&M on November 23, 2010, Versace for H&M on November 17, 2011, ALEXANDER WANG× on November 6, 2014 H&M...fans line up, increase prices, and enjoy it.

　　"H&Ms" can no longer meet individual needs

　　Guochao brand is sought after by the younger generation

　　In fact, the hidden dangers of H&M have a long history, and the worrying quality is the fuse that has repeatedly caused public anger.

　　H&M Group's second quarter 2021 financial report shows that H&M Group's sales in mainland China fell by 28% compared with the same period of the previous year, with a loss of US$74 million.

　　Although H&M's net sales in 2021 increased by 6% to 198.967 billion Swedish kronor, in the Asian and Oceania markets, sales fell consecutively in the third and fourth quarters, with sales falling by 17% and 15% year-on-year, respectively.

As of November 30, 2021, H&M Group had 4,801 stores, a decrease of 217 stores compared to the same period last year.

H&M plans to completely close 120 stores this year to cut costs, mostly in Europe.

　　The tide of store closures reflects the pain of the fast fashion industry's transformation.

Some commentators believe that the era dominated by fast fashion brands has passed, and "H&Ms" seem to be unable to meet the needs of the younger generation who pursue personalization.

More and more consumers criticize fast fashion brands for the same style and poor quality.

　　At the same time, Guochao brands are increasingly sought after by the younger generation.

For example, the Winter Olympics held not long ago made Anta's winter Olympics the same down jacket popular, and Li Ning's Tiger Years Day Gold series was also sought after by many young consumers.

In addition, there are emerging trendy brands such as bosie, INXX, beaster, etc., so that the younger generation of consumers have more and more choices in buying clothes.