Attemark joins the fast-fashion giant from Swedish clothing label Odd Molly, where she had been chief executive officer since 2011. Prior to that, she worked at the H&M group for 17 years in various roles. She will report to H&M ceo Karl-Johan Persson and is due to start in August, an H&M spokeswoman said.
Attemark succeeds Madeleine Persson, who will now head the H&M brand together with Fredrik Olsson. Madeleine Persson and Olsson had been scheduled to outline their vision for H&M at the group’s Capital Markets Day in Stockholm on Wednesday, but both cancelled their appearance due to sickness.
The group organized the event — the first of its kind in its history — in a bid to reassure investors after a 45 percent drop in H&M’s stock price over the last 12 months. The retailer said sales in comparable stores will continue to decline this year, and were not expected to reverse course before 2019.
The new business division, though it accounted for only 7 percent of the group’s revenues last year, is seen growing at a rapid clip. Sales for the division are expected to increase by at least 25 percent a year to reach more than 50 billion Swedish kronor, or $6.3 billion at current exchange rates, in 2022.