Pros
Almost from day 1 you are given lots of responisbilities and oppurtunities to influence not only the H&M group but also global fashion business in one way or another. If you do well and work hard, career oppuyrtunities are endless, it is not uncommon that a business graduate within two years have advanced to being sales controller (in effect, sales manager) in an H&M-market somewhere in the world, or you can move to south east asia to work with sourcing at H&M production offices.
Cons
Only one big downside really, the pay is a disgrace if you enter as a university graduate, H&M is between 20 and 50% below industry standard, this is a difference that seem to stay or even become larger as you move up the career ladder. It may be OK to work at a place where you don't have a high salary, but it is not OK to work somewhere where you have a bad salary.