H & M Takes The Lead In Setting The Stage For Retailers. Who Is The Next Giant?

Due to the outbreak, Swedish retail giant H & M will suspend the appointment of new orders to Bangladesh's supply factories. Clothing suppliers from all over the world, including Bangladesh's clothing suppliers, have been criticized for cancelling work orders and delayed shipments.

At present, it is reported that H & M has assured its clothing suppliers that they will fulfill their commitments to garment manufacturing suppliers by delivering the garments they produce and the products they produce, and will not bargain on orders. H & M took the lead in setting up an example for other retailers, which has also relieved some Bangladeshi exporters. According to industry sources, he and M buy nearly $4 billion worth of clothing and textiles from over 230 Bangladesh factories annually.

H & M said they know that suppliers and their employees are vulnerable under such circumstances. In the face of all uncertainties, we hope to maintain transparent and clear communication with suppliers, and conduct close and open dialogue on short-term and long-term plans.

Pictures from Alden wicker twitter screenshots

Alden wicker, a sustainable fashion writer, and Mostafiz Uddin, founder and chief executive officer of Bangladesh denim Expo and Bangladesh clothing exchange (BAE), also commended the behavior of H & M and reprinted the article of The Daily Star.

H & M save clothing suppliers
Swedish retail giant H & M assured their clothing suppliers yesterday that they had shipped the goods they had already made, which made some Bangladeshi exporters feel relieved. When H & M put forward this information, clothing suppliers around the world, including Bangladesh's clothing suppliers, were criticized for cancelling their work orders and delayed shipment.
H & M said in the media news: "we will fulfill the promise of garment manufacturing suppliers by delivering the garments and products produced."
The Swedish company did not mention any particular supplier of any particular country or region. According to industry sources, he and M buy nearly $4 billion worth of clothing and textiles from over 230 Bangladesh factories annually.
H & M said: "of course we will pay for these commodities, and we will pay according to the agreed terms of payment. Besides, we will not negotiate the price of the orders we have issued. " At this point, it is necessary to temporarily suspend new orders and assess potential changes in orders recently issued. H & M added: "as long as circumstances permit, we will start placing orders again."
Meanwhile, according to data from Bangladesh clothing manufacturers and Exporters Association (BGMEA), as of 5 p.m. yesterday, 1025 factories reported cancelling 864 million 170 thousand work sheets, worth 2 billion 810 million US dollars.
H & M says they are well aware that suppliers and their employees are extremely vulnerable under such circumstances. "In view of the changing situation and the uncertainties that we face throughout the industry and the whole world, we hope to maintain transparency and transparency for our garment suppliers." The Swedish company says the entire fashion industry is now facing the biggest challenge.
"And we use all our networks and contacts to find solutions that can best contribute." Companies such as H & M play an important role in many developing countries and Global trade. The textile industry has made contributions to the economic growth, employment and stability of textile producing countries.
The retailer added: "in this case, we are deeply studying how to provide support for our country, society and individuals from the perspective of health and finance. In the first stage of emergency, we will concentrate on countries that are highly dependent on the textile industry. "