In terms of selling in China H&M is cautiously optimistic
In terms of selling in China H&M is cautiously optimistic
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Beijing: A year after being banned due to a boycott over its concerns about Xinjiang cotton and the forced labour of the Uyghur community, H&M made its way back to China's Tmall e-commerce platform in August. A 2020 report by the Australian Strategic Policy Institute brought the scope of labour camps to the attention of the world for the first time (ASPI).

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Following a backlash from a campaign promoted by China's state media, H&M was swiftly banned from Tmall. Because China's e-commerce was a significant source of revenue for the Swedish retail behemoth H&M, the ban severely hurt its sales. However, things are improving as H&M stated on Tuesday to the Financial Times that it was cautiously optimistic and upbeat. H&M CEO Helena Helmersson told the FT, "We are moving in the right direction, but it's slow. "The situation is still complicated."

The other major e-commerce player in China, JD.com, where H&M was previously barred from selling its collections, has not yet welcomed the retailer back.

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H&M closed a three-story flagship in Shanghai in June as a result of allegedly subpar retail sales. In April, the company also shut down operations for its Monki brand while launching a second &OtherStories location in Beijing.

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H&M continues to experience difficulties in the Chinese retail market, which is no longer among the top ten of its highest revenue markets. Aside from geopolitical concerns, inflation, the pandemic's effects, and rising material costs are causing retail organisations like H&M to close stores and fire employees in order to reduce costs.

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