H&M is a global low-end clothing retail chain. H&M is constantly expanding and has a target of increasing the number of shops globally. The largest operational risk is executing on the ‘wrong’ fashion trend resulting in heavily discounted sales of inventory. H&M has generated additional sales by inviting famous guest designers to create limited collections. The business model is defensive by nature. In difficult economic conditions customers ‘trade down’ allowing H&M to get hold of more and better store locations. Thereby, increasing price competitiveness and laying the foundation for accelerated future growth.