H&M returned to JD.com, one of China’s biggest e-commerce marketplaces, this month. This is after a prolonged absence due to criticism over its stance on alleged human rights abuses in China’s Xinjiang region.
The Swedish retailer also returned to Alibaba’s Tmall e-commerce platform last year, but H&M’s products have not been available on JD.com since back in 2021.
H&M CEO, Helena Helmersson, said in a recent interview, that the return to JD.com was a milestone, but H&M is still “not where it wants to be” in China.
H&M announced a share buyback program starting on Wednesday, September 27. The company plans to buy back up to 3 billion SEK of stock by March 31 next year.