The Ethisphere Institute , an independent research group that promotes apparel companies that use the “best practices in corporate ethics and governance”, awards H&M the World’s Most Ethical companies in 2014.
H&M is a brand that is home to many “fashionistas” across the globe, appealing to teenagers, young adults, and adults both male and females. Today, the Swedish brand is acclaimed for being apart of two companies, Gap and Levis, for taking an ethical approach with their clothing. According to Refinery29 , H&M released a statement stating that the award is given to companies that “understand the correlation between ethics, reputation, and daily interactions with their brand,” something they take pride in.
Telegraph.Co.UK explains that Ethisphere’s base their awards on five key categories; ethics and compliance program (25%), reputation, leadership, and innovation (20%), governance (10%), corporate citizenship and responsibility (25%) and culture of ethics (20%). The beauty of such an award is more exposure and support as H&M plans to expands its costs.
The Wall Street Journal reports that the global brand is working on long-term investments such as launching e-commerce activities in China, which already markets 228 stores. The Swedish retailer Chief Executive, Karl-Johan Persson, elaborates on efforts to extending the company’s scope by enhancing their online presence, introducing new accessories and concepts, such as a Sport clothing line, and increasing revenue by building over 300 new stores alone for 2014.
The expansion is taking place sooner than later. Refinery29 reveals that H&M is launching two collections on April 10th, called Conscious and Conscious Exclusive.
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