Swedish retail giant H&M assured its garment suppliers of taking shipment of goods that have already been manufactured,. H&M came up with the message at a time when apparel suppliers across the world, are being slammed by work order cancellations and delayed shipments.
We will stand by our commitments to our garment manufacturing suppliers by taking delivery of the already produced garments as well as goods in production,” said H&M in a media message. The Swedish company did not mention any particular supplier from any particular country.
“We will, of course, pay for these goods and we will do it under agreed payment terms. In addition, we will not negotiate prices on already placed orders,” H&M said. At this point, it is necessary to temporarily pause new orders as well as evaluate potential changes on recently placed orders. “We will start placing orders again as soon as the situation allows,” H&M added. H&M says it is well aware that the suppliers, and their employees, are extremely vulnerable in this situation.
“Given the constantly changing situation and the uncertainty that we, the industry and the whole world are facing, we want to be clear and transparent towards our garment suppliers.” The entire fashion industry now faces its biggest challenge ever, according to the Swedish company. Companies such as H&M play a key role in many developing countries, as well as global trade. The textile industry contributes to economic growth, employment and stability in textile producing countries.
