H&M Group’s Q3 sales rose 14% year-on-year (YoY), the Swedish fashion retail giant said on Wednesday. That said, the figure was in local currencies and when converted to Swedish Krona, the rise was only 9%.
When the world's two biggest fashion groups unveil quarterly sales figures on Wednesday, Inditex is seen back at pre-pandemic levels as stores reopen and people renew their wardrobe, while H&M still has some way to go.
Major global retailers agreed to extend a legal agreement with garment workers and factory owners in Bangladesh that subjects retailers to legal actions if their factories fail to meet labour safety standards.
The Swedish fashion week is back from August 31 to September 2 in a hybrid format combining digital and in-person events. It will open with a half-day conference on fashion, sustainability, technology and innovation.
The fashion industry is continuing to be “too slow” to deliver details on ethical practices, according to a new report by The Fashion Transparency Index, which tracks 250 of the world’s biggest brands and retailers.
The Asia Floor Wage Alliance has joined forces with several local labor unions to file a complaint against fashion giant H&M in Bengaluru for alleged labour abuses at a supplier factory for the brand in 2020.