×
232
Fashion Jobs
MIRRAW.COM
Production Manager | Mirraw
Permanent · MUMBAI
LIFESTYLE BRANDS
Senior Executive - Accounts - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Area Manager-Projects Execution (Telangana &Amp; Andra Pradesh)-Hyderabad
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Financial Manager - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Training Manager, Planet Fashion - Bangalore
Permanent · BENGALURU
RJCUBE STAFFING SOLUTIONS PVT LTD
General Manager/vp - Export Marketing For Terry Towel Products, Noida
Permanent · Noida
HECTOR AND STREAK CONSULTING PVT LTD
Assistant Manager Production - Textile,Fabrics,Plastic,
Permanent · NASHIK
HECTOR AND STREAK CONSULTING PVT LTD
Manager Accounts - For a Manufacturing Company in Mumbai
Permanent · Mumbai
GENIUS CONSULTANTS LIMITED
Warehouse Manager in a Leading Garments Manufacturing Company
Permanent · Kolkata
GENIUS CONSULTANTS LIMITED
Digital Marketing Executive@ Hiring is Going on
Permanent · Kolkata
SUPER FASHION
HR Manager / sr. HR Manager (For Garments Industry)
Permanent · Faridabad
SUPER FASHION
General Manager Production / Production Manager (Knits Garments)
Permanent · Faridabad
CAREERPLUS PLACEMENTS PRIVATE LIMITED
Opening-Head Production - Leather Bag @Chennai
Permanent · Chennai
RELIANCE INDUSTRIES LTD
Cluster Merchant
Permanent · COIMBATORE
KOMAL TEXFAB PVT LTD
Export Manager - Documentation
Permanent · Ahmedabad
HONEYBEEZ CONSULTANCY
Business Development Manager
Permanent · Mumbai
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · Chennai
JOBS TERRITORY
Hiring For Sales Manager |3 to 6 Yrs Exp | Bangalore
Permanent · Bengaluru
JOBS TERRITORY
Hiring For Sales Manager |3 to 6 Yrs Exp | Bangalore
Permanent · Bengaluru
IDEASPOT CONSULTANT
Digital Marketing Manager - Reputed Garments Company
Permanent · Kolkata
IDEASPOT CONSULTANT
Manager HR & ir - Reputed Garments Industry - Kolkata
Permanent · Kolkata
IDEASPOT CONSULTANT
Marketing Manager - Reputed Garments Company - Kolkata
Permanent · Kolkata

H&M gets tough with landlords

Published
today Sep 9, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Amid turbulent times on the UK high street and a wave of CVAs, H&M has taken a leaf out of its British rival’s books by asking landlords to switch to turnover-based rents.


Reuters


The request has reportedly rattled landlords, particularly because H&M not only wants rents to be determined by the revenue generated in each store but also because it is proposing to deduct any in-store returns, including those from online purchases, from a shop’s revenues.

The move would mean property owners will receive less rent, putting more pressure on their retail property values.

H&M Group has more than 300 stores in the UK, operated under its Cos, Monki, Cheap Monday, & Other Stories, H&M, and Arket fascias.

In recent months the Swedish retailer has seen several rivals, including Topshop, New Look and Mothercare, go down the CVA route to reduce the size of their store portfolio. Other British retailers like Next and Primark are demanding similar rent cuts from landlords to level the playing field.

But some property owners consider H&M’s demands as too aggressive, reported The Sunday Times. The clothing giant is offering landlords ‘total occupational deals’, where they propose giving landlords a turnover-based sum leaving them to divide it between service charge, rent and business rates. 

The fact that business rates are more expensive than rent in some locations will mean some landlords will have to agree to the terms in a bid to ensure their business rates and service charge bills are covered.  

The newspaper said some landlords have already rejected the offer.

An H&M spokesperson said: “Like every retail business, we work with our landlords to draw up lease agreements that allow us to run a successful store portfolio. We won’t discuss the details of individual contracts as we consider this information to be commercially sensitive.”

Copyright © 2020 FashionNetwork.com All rights reserved.