H&M CEO Daniel Ervér is calling on European politicians to create a level playing field for fashion retailers in order to combat unfair competition from Chinese rivals such as Shein and Temu. The Swedish fashion chain itself is focusing more strongly on premium and second-hand clothing.
Upgrading stores
H&M is on a “very long journey” toward increased profitability, Ervér said in an interview with the Financial Times. The fashion group is under pressure from above by competitors such as Zara and from below by cheaper players such as Shein and Primark. The CEO therefore points to the need for legislators to ensure a level playing field in terms of taxes, use of chemicals, purchasing practices, and working conditions.
