H&M's presence at the Met Gala this year signifies a renaissance for the company, aiming to set itself apart from mass-market counterparts.
New CEO Daniel Ervér is focused on turning the company's fortunes around, with a recent boost in profits and a goal of achieving a 10 percent operating margin by 2024.
The company is emphasizing boosting gross margins through improved quality and better prices, launching new concept stores in London with higher price points.
Ervér's predecessor, Helena Helmersson, stepped down due to demanding circumstances, and Ervér is implementing new strategies to revitalize the brand.
The new H&M store in London's Kings Road reflects a blend of modern and classic design, aiming to capture the essence of the neighborhood's cultural heritage.
H&M's shift towards premium collections and higher margins is a response to fierce competition from online fast fashion players and other retail giants, signaling a need for innovation and relevance in the industry.
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