While many fashion retailers are having a challenging time with changes in consumer spending and trends, H&M continues to perform well. Their recent financial report released today, December 15, 2014, for November sales include an increase by 10% compared with the same time last year.
The total number of stores amounted to 3,511 on November 30, 2014 versus 3,132 on November 30, 2013.
In addition, in November CEO Karl-Johan Persson was one of this year’s recipients of the Fairness Award. The Global Fairness Initiative promotes a more equitable, sustainable approach to economic development. By honoring individuals that work towards the same goal, they hope to inspire a new generation of leaders to dedicate themselves to the same issues.
“I am very honored that the Global Fairness Initiative has chosen to recognize the role of H&M in increasing development opportunities for poor countries. To me this award is of course a tribute to all of H&M and our whole team of people working together worldwide for a more sustainable future,” said Persson.
H&M’s work to open opportunities for the working poor throughout the world is the vision that all textile workers should be able to live on their wages. H&M’s fair living wage strategy, described as an important contribution towards fair living wages is not only at H&M’s suppliers but in the whole textile industry.
“Karl-Johan Perssons work both personally, and through H&M’s social initiatives has set a strong example of leadership and innovation on some of the most challenging issues facing poor and marginalized communities around the globe,” says Karen Tramontano, Founder and President of the Global Fairness Initiative.
H&M Conscious Foundation has also asked Sudanese model Alek Wek to be the ambassador for the Foundation. Alek was introduced to H&M Conscious Foundation when she was asked to give her opinion on which global challenges she found most immediate and relevant for the Foundation to support.