The Swedish retailer, which is going through a business model transformation, has developed an app for H&M home with the tech giant. It has also started testing augmented reality with Monki.
H&M moves forward towards digitalization. The Swedish retailer, which is going through a transformation process, has announced today the launch of two new technologies for the H&M Home and Monki brands.
For its home chain, the company has teamed up with Google to launch a voice app powered by Google Assistant, named H&M Home Stylist. It provides personal styling suggestions, mood boards and inspiration for every room in the home by answering users questions’.
Parallel to that, H&M has reached an agreement with British company HoloMe, specialized in creating high-definition human holograms in augmented reality. The project that’s being tested consists of nine selected Monki outfits that could be viewed by users through a smartphone or tablet with minimal data usage. Enhanced with effects in 3D, users can see in great details the garments and experience the holograms as being present in the room.
H&M has partnered with British company HoloMe to introduce human holograms in Monki
“The fashion industry is changing fast and technology is more important than ever as an enabler in adapting to an ever-changing society”, said Elin Frendberg, H&M’s business development director, in a statement.
H&M is going through a transformation process to reconnect with the consumer and fight against falling footfall in brick-and-mortar stores. In the context of this plan, the group is restructuring its store network, after shutting down one hundred shops in 2017 and testing new retail concepts.
This month, the company will launch Afound, an online platform that will be an outlet for external and in-house brands. By now, the new retail chain will only operates two physical stores in Sweden.
H&M’s net income fell 44% during the first quarter of fiscal 2018 to 1,372 million Swedish crowns (134.7 million euros). Group sales decreased by 1.7% between December and February to SEK 46,181 million (4,533 million euros).
At the end of the first quarter, the company operated with 4,747 stores worldwide, compared to 4,393 shops as of February 28, 2017. H&M expects to shut down 170 stores in 2018, but with 220 net openings.