H&M’s international operations in China and Russia under review

Featured image of the article H&M’s international operations in China and Russia under review
Publication

4 April 2022 à 18h23

Updated on 8 April 2022 à 11h35

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2 minutes

Publication: 4 April 2022 à 18h23, Updated on 8 April 2022 à 11h35

Reading time: 2 minutes

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Publication

4 April 2022 à 18h23

Updated on 8 April 2022 à 11h35

Reading time

2 minutes

Publication: 4 April 2022 à 18h23, Updated on 8 April 2022 à 11h35

Reading time: 2 minutes

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Losing momentum in two major markets, the Swedish fashion retailer Hennes & Mauritz (turnover of €4.7 billion in Q1 2022, up by 18% year-on-year) has decided to close 240 stores.

Since the war in Ukraine, all business ceased (online and offline) in Russia, Ukraine and Belarus. This represents 185 stores closed and a turnover growth of only 6% in March 2022 in local currency. European closure is in addition to difficulties in China. H&M has been struggling in China for the p

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