China
The sales of the famous Swedish fashion
brand, H&M saw a slump in China due to the boycott issues. The brand had
also raised concerns over human rights abuses against Uyghur Muslims in China’s
Xinjiang province.
After its statement, celebrities have cut
ties with the brand as well as e-commerce platforms have dropped H&M. According
to the data, the sales of the brand have fallen down by 23% for the second
quarter of 2021 as compared to the corresponding figure last year. With the
ease of the pandemic, H&M’s global business returned to profit, but the
sales dropped due to the boycott issues.
According to Helena Helmersson, Chief
Executive, H&M, as the brand has quantified the impact
of boycott for the first time, the situation in China remains complex. Apart
from that, the brand sticks to what it had said before.
Due to the concerns related to the alleged
use of Uyghur forced labour in cotton production, H&M has faced a backlash
from the Chinese shoppers. It was also removed from the Chinese online retail
platform in the month of March.
The brand is highly dedicated to regaining
the trust of customers and partners in China and the commitment towards the
country holds the same.
Source
– BBC News
Image Source: Twitter
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