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VERSACE

Versace to design H&M’s new autumn collection

H&M is teaming up with design legend Donatella Versace for the Swedish discount fashion retailer's special 2011 autumn collection.

Versace to design H&M's new autumn collection

“I am thrilled to be collaborating with H&M and to have the opportunity of reaching their wide audience. The collection will be quintessential Versace, perfect for H&M and Versace fans everywhere,” Versace said in a statement.

The collection, featuring “leather, print, colour and exuberance in exclusive materials” is meant to be something of a retrospective on Versace’s heritage and will go on sale on November 19th in around 300 H&M outlets worldwide.

“Versace is one of the most important brands of recent times, and their collection for H&M will be glamorous and flamboyant – everything Versace stands for,” H&M creative advisor Margareta van den Bosch said in a statement.

“Donatella Versace is sharing with us iconic designs from the archives. This is such a celebratory collaboration and it is perfect for the party season.”

H&M’s collaboration with Versace also marks the first time an exclusive collection will feature homeware items such as cushions and bedspreads, in addition to men’s and women’s clothing collections.

Known for its trendy yet affordable fashions, H&M is the world’s third largest clothing group behind Spain’s Inditex, which owns Zara, and Gap of the United States.

It first teamed up with a top fashion designer in 2004, in a tie-up with Karl Lagerfeld and sent its monthly sales soaring.

Since then it has hooked up with the likes of Stella McCartney, Viktor and Rolf, Comme des Garcons, Jimmy Choo and Sonia Rykiel — as well as one-off lines with style icons Kylie Minogue or Madonna.

H&M was founded in Vaesterås in central Sweden in 1947. The cheap-and-chic fashion company had 2,206 stores and 59,440 employees worldwide at the end of 2010.

Founded in 1978 by Gianni Versace, the eponymous brand has evolved into one of the most prominent names in fashion. Daughter Donatella Versace has served as the brand’s creative director since 1997.

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H&M

H&M competitor to sponsor Sweden’s Olympic team

Six months after establishing itself in Stockholm, Japanese clothing brand Uniqlo has announced it will sponsor Sweden’s athletes at the 2020 Olympics.

H&M competitor to sponsor Sweden's Olympic team
Anna Hasselborg of Sweden's curling team tries out new kit supplied for the country's athletes by Uniqlo. Photo: Henrik Montgomery/TT

The clothing chain, one of the world’s fastest-growing retail companies, is also set to open more stores in the Scandinavian country.

“Swedes are so sophisticated and warm-hearted,” Uniqlo Europe CEO Taku Morikawa said, stressing how welcome his company has been made to feel.

Morikawa was in Sweden to present the partnership between Uniqlo and the Swedish Olympic Committee at an event at Uniqlo’s store on Hamngatan in Stockholm.

Sweden’s athletes wore teamwear supplied by H&M at the last two Olympic Games.

The Stockholm store, Uniqlo’s first in the Nordic region, opened its doors in August 2018. An expansion is now planned on the Swedish market, although Morikawa declined to reveal where.

“We definitely have plans to open more stores here,” he said.

A store will also open in Danish capital Copenhagen in the coming spring as Uniqlo’s holding company Fast Retailing continues its global expansion.

Sales figures in Sweden’s clothing retail sector have seen a downward trend in recent years, with an exception in 2015.

H&M is usually cited as one of Uniqlo’s main competitors.

The impact of a new player on an already-competitive market is difficult to predict, according to the Swedish Trade Federation (Svensk Handel).

“Locally, competition is sharpened, but competition is already fierce. I would be inclined to say that this type of partly new concept store can, instead, help to revitalise the physical retail sector for clothing,” the association’s head economist Johan Davidson said.  

READ ALSO: H&M profit down sharply despite rise in online sales

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