NEW YORK (TheStreet) -- "We're really looking forward to the holiday season," said H&M's president of North America Daniel Kulle, who added that he expects this year's holiday season to be strong. Last year, many retailers slashed prices and became very promotional during the holidays.
Going into 2014's holiday season, H&M doesn't have plans to change its model. "We don't focus on promotions," Kulle explained. Instead, the company focuses on offering high-quality, fashionable products at reasonable prices.
American consumers are beginning to see these offerings and take advantage of the prices. The consumer appears to be strong this year, especially with H&M, he added.
The retailer has added over 60 new stores this year and is expanding its online reach. Last year was the company's first year with an online presence, which was accompanied with several obstacles when the holidays arrived.
This year, the company will focus on increasing the number of products it offers online, as well as improve the delivery process. H&M has experienced "phenomenal growth" in its e-commerce business, he said.
But that's not the only great thing going on at H&M. The company's collaboration with Alexander Wang and other high-end designers has resulted in "phenomenal success" with the end product result, Kulle explained.
Repeat customers continue to come back because of the great products and reasonable prices, while the constant introduction of great fashion continues to hook new customers, he concluded.
-- Written by Bret Kenwell