After the H&M Group, which boycotted Xinjiang cotton and refused to admit its mistake, its revenue in China in the second quarter plummeted 28% and lost 74 million US dollars (approximately RMB 502 million). Staged "Xian Shi Bao".
On September 30, local time, H&M Group’s third-quarter financial report showed that China has fallen out of the list of H&M’s top ten markets, that is, H&M Group’s revenue in China for the quarter has not been able to rank in the top ten. However, the financial report did not announce the specific situation of H&M's income in China.
According to Bloomberg analysis, in the third quarter of 2020, China is H&M's fourth largest market, with sales of 2.55 billion Swedish krona (approximately RMB 1.879 billion). In the third quarter of this year, Spain was H&M's tenth largest market, with sales of 1.55 billion Swedish kronor (about 1.142 billion yuan). In other words, H&M's revenue in China plummeted by about 40% in the third quarter of this year, with a loss of more than 737 million yuan.
On June 15 this year, "Big Sale" ads appeared in H&M stores in Taikoo Li, Sanlitun, Beijing
financial report in the third quarter Revenue was 56 billion Swedish kronor (approximately RMB 41.261 billion), an increase of 9% compared to the same period last year, but it has not yet recovered to the pre-epidemic level, which is lower than the 63 billion Swedish kronor (approximately) in the third quarter of 2019. RMB 46.419 billion).
H&M Group founder’s grandson and chairman Karl-Johan Persson said: “The board now believes that,The increased profitability of the H&M Group, strong financial conditions and stable market conditions, coupled with our ability to deal with the impact of the epidemic on our business, have made it possible to issue dividends. "
H&M Group CEO Helena Helmersson (Helena Helmersson) said that the group’s current supply chain challenges are “developing in the right direction” and “is controllable. ".
However, Hemmerson refused to disclose the latest situation of H&M's business in China, only saying that H&M was boycotted after raising Xinjiang cotton-related issues. This is "a very complicated situation" (a very complex situation).
H&M Group CEO Helena Helmerson H&M Group announced last year in 3span4span p1span &p7 The boycott of Xinjiang cotton triggered an earthquake of public opinion.
was condemned by all parties as soon as it was exposed. The search results of Taobao and Tmall APP showed that all searches for "H&M" or "HM" had no results, which was caused by Ali. is blocked and removed. In addition, e-commerce platforms including Pinduoduo, Vipshop, Suning.com and other e-commerce platforms have also been unable to search for "H&M" stores and products.
However After arousing strong dissatisfaction with Chinese public opinion,H&M Group issued a statement on the evening of the same day that it refused to admit its mistakes, arguing that the relevant actions "do not represent any political position" and "respect Chinese consumers as always."
H&M’s statement to boycott Xinjiang cotton
span The lies fabricated by a handful of anti-China elements in a handful of countries are aimed at messing up Xinjiang and containing China.
Wang Wenbin also said that the deliberate slander suppressed, on the contrary, the white and high-quality Xinjiang cotton has been recognized by more consumers, and its supply exceeds supply, which has further become an important business card for Xinjiang agricultural products.
Source: Observer Network
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