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H&M Will Support Suppliers and Buy Back All Merchandise



Swedish fashion retailer H&M, the second-largest player in the world market, has announced plans to buy back all products from suppliers.
H&M Group

Swedish fashion retailer H&M, the second-largest player in the world market, has announced plans to buy back all products from suppliers despite a significant drop in demand for clothing around the world. Thus, the company has decided to support its counterparties in a crisis. 

H&M will buy back all clothing, both already manufactured and in production, by existing contracts. The company notes that the orders will be fulfilled without any revision of the cost. In a press release, H&M notes that the problem of selling clothes has affected millions of people around the world, including in countries focused on the production and sale of products for global fashion retailers. 

"The H&M Group is working actively at all levels of the company to cope with the situation and support people, business and the environment at this difficult time... H&M Group strives to be as fair and transparent as possible to its factories-suppliers, scrutinizing and evaluating opportunities to mitigate negative consequences for partners and employees in the textile industry," the press release says. 


More about shopping malls in Sweden

YESTERDAY, USA:
Adidas and AllBird have announced a partnership aimed at creating new environmentally friendly technologies.
DAY BEFORE YESTERDAY, France:
French chain of department stores Galeries Lafayette has announced a new service for customers during the closing of stores.
DAY BEFORE YESTERDAY, USA:
The chain of coffee shops adapts to the realities of the post-quarantine world and focuses on drive-thrus, self-service, and delivery.
May 26, 2020, Italy:
Due to the sharp decline in interest in fashion in the midst of the pandemic, the company is abandoning the traditional calendar of shows and moving to an off-season schedule.
May 26, 2020, Germany:
The masks to protect against coronavirus are called Face Covers and are made from recycled materials.
May 25, 2020, United Kingdom:
Due to the coronavirus pandemic, more and more customers are adopting the habits of the younger generation and do not want to constantly change their wardrobe.
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