BUSINESS H&M issues online statement on Chinese market

BUSINESS

H&M issues online statement on Chinese market

By Wang Zhuoqiong | chinadaily.com.cn

16:32, March 31, 2021

H&M logo is seen on one of the Swedish retailer's shops January 30, 2020. (Photo: Agencies)

H&M said on Wednesday its commitment to China remained strong and it was dedicated to regaining shoppers' and partners' trust in the Chinese market.

"We are dedicated to regaining the trust and confidence of our customers, colleagues, and business partners in China," the Swedish fashion retailer said in a statement on its website.

"By working together with stakeholders and partners, we believe we can take steps in our joint efforts to develop the fashion industry, as well as serve our customers and act in a respectful way," it said.

Chinese apparel and sportswear brands have emphasized the use of domestic cotton and their focus on the Chinese market, with shares of many Chinese domestic sportswear groups surging.

Anta, a domestic leading sportswear brand, pledged on March 24 to exit the Better Cotton Initiative and that it will continue to use Chinese cotton, including from the Xinjiang Uygur autonomous region.

Li Ning Sports said it has not joined BCI and has been using cotton from Xinjiang as raw material for its products.

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