H&M confirms its commitment to China after backlash

According to media Morning star, Sweden’s fashion retailer recently stated that the company is working hard to manage the recent challenges in China and find a way forward after the massive boy-cut that amongst other things, saw H&M disappearing from major Chinese e-commerce platforms. The boy-cut came after state criticism for the company’s yearlong decision to not source products from Xinjiang on ethical grounds.

H&M stated that it’s long-term commitment to China remains strong and the Chinese market is an important market for the company. H&M is dedicated to regaining the trust and confidence of customers, colleagues, and business partners in China.

“We want to be a responsible buyer, in China and elsewhere, and are now building forward-looking strategies and actively working on next steps with regards to material sourcing,” H&M said.

In a separate release, H&M posted a net loss for the first quarter of 2021 of SEK 1.07 billion compared with a profit of SEK 1.93 billion last year. H&M said that as of Tuesday, around 1,500 stores remain temporarily closed, which is 30% of its total.

About Mette Larsen

Guest writer

View all posts by Mette Larsen

Leave a Reply

Your email address will not be published. Required fields are marked *