Hennes & Mauritz (H&M): Should Fast Fashion Slow Down?
Fast Fashion companies, including H&M, have grown considerably since the 1990s by satisfying consumers’ insatiable appetite for the latest fashionable trends at low prices. H&M’s newest CEO, however, must rethink the company’s business model and sustainability initiatives following recent global awareness and protest of fast fashion’s unfavorable environmental and social impact.
- To highlight the conflict between consumers’ demand for cheap, fashionable clothing and said demand’s environmental and social costs;
- To demonstrate the influence of climate activism and social responsibility on a global corporation and industry;
- To encourage discussion on the level of responsibility fast fashion companies have to assume in order to help sustain the environment;
- To shed light on a chief executive officer’s open criticism against the growing consumershaming movement and promote discussion on communication strategy;
- To provide an example of how a company is challenged to balance sustainability initiatives while maintaining growth and profitability in a competitive market.