During the Covid-19 year, the group reacted by accelerating the importance of proximity on its production, with 49% of total suppliers. The group stopped working with 65 suppliers in China.
The company’s net sales decreased by 21 percent in the quarter ended 28 February. The Swedish group has also issued a statement after the boycott suffered in China.
The fashion retailer had a turnover of 6.6 billion euros online last year. High-street rivals H&M and Gap generated online less than €6 billion each last year.
All economic news of the key fashion companies worldwide.