Agenda-setting intelligence, analysis and advice for the global fashion community.

The New H&M CEO’s Challenges: Wrong Product, Pricing and Channels.

In a surprising shakeup Wednesday, the Swedish fast fashion chain promoted longtime executive Daniel Ervér to CEO. Critics say his lack of outside experience will make it all the more difficult for H&M to embark on a necessary transformation.

All brands with revenues of greater than $100 million that transact in New York State are covered by the Act, which effectively means all major fashion brands, from Louis Vuitton to H&M. — The move was not viewed favourably in the market. H&M shares fell 11 percent on Wednesday. (Shutterstock)

Cathaleen Chen

01 February 2024

BoF PROFESSIONAL

Amid a decade-long bid to regain dominance in the fast fashion space, H&M named a new chief executive Wednesday morning, replacing Helena Helmersson with Daniel Ervér, an 18-year veteran of the business who most recently helmed its marquee brand.

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H&M Names New CEO in Surprise Move

The company surprised investors with the announcement that H&M brand head Daniel Ervér will takeover from outgoing chief Helena Helmersson.

Under Pressure From Shein, H&M Reaches for Upmarket Shoppers

In seeking to attract more aspirational shoppers, H&M is boosting its image through high fashion collaborations.

H&M Sales Drop as Consumer Demand for Fast Fashion Wavers

Hennes & Mauritz AB’s revenue fell as consumers pulled back on spending at H&M clothing stores and after the chain closed stores in Russia.

About the author

Cathaleen Chen

Cathaleen Chen is Retail Editor at The Business of Fashion. She is based in New York and drives BoF’s coverage of the retail and direct-to-consumer sectors.

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