H&M’s new boss has pledged that the Swedish fast-fashion chain will invest more in reacting quicker to new trends, including by bringing some of its manufacturing from Asia closer to its main markets.
Daniel Ervér, the 42-year-old company veteran who became chief executive on Wednesday, told the Financial Times that H&M would use improvements in profitability and cash flow last year to invest in its customer offering.
“One part is being faster to market,” he said. “We are digitalising processes. We are developing nearshoring capabilities — being quicker to react to new trends. We also want to leverage data from customers to be more precise in how we run our supply chain.”
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