Core Viewpoint - H&M is undergoing a transformation towards a more fashionable and premium positioning, exemplified by its collaboration with Chinese designer Jacques Wei, which aims to enhance brand visibility and appeal in international markets [8][10]. Group 1: Collaboration with Jacques Wei - The collaboration with Jacques Wei features a collection inspired by "horses," incorporating signature elements like beading, metal accessories, and animal prints, showcasing H&M's shift towards a more fashion-forward identity [4][8]. - Jacques Wei's brand, established in 2020, has achieved a revenue of €3 million and is present in over 30 international fashion retail channels, indicating strong market potential [7]. - The collection will primarily be sold in Japan, South Korea, and Australia, with a focus on more daring designs that perform better in overseas markets compared to practical styles favored domestically [8]. Group 2: H&M's Strategic Shift - H&M is in a critical phase of transformation, having recently returned to London Fashion Week after seven years, showcasing its 2025 Fall/Winter collection and high-end lines [9]. - The company has emphasized the term "premium" significantly more in its communications, indicating a strategic pivot towards higher-end offerings [11]. - H&M's collaboration strategy has diversified, with six partnerships launched since mid-2025, aiming to balance seasonal marketing with designer collaborations [10]. Group 3: Financial Performance - In Q3 of the 2025 fiscal year, H&M reported a 2% year-on-year increase in net sales, with a gross margin of 52.9%, up 1.8 percentage points from the previous year, and a 40% increase in operating profit [11]. - The company is reducing the SKU share of its lowest-priced products in the UK by 15%-25% and increasing the proportion of its EDITION series in China to elevate average transaction values [12]. Group 4: Future Outlook - H&M aims to continue seeking collaborations with emerging design talents like Jacques Wei, focusing on sustainable integration of high-fashion elements into everyday offerings [12].