Leather milestone for H&M
Fashion group H&M has published its annual report for the 12 months spanning December 1, 2019 to November 30, 2020.
Its revenues fell by 20% year on year to reach approximately $21.5 billion. It closed the period with just over 5,000 stores worldwide, 58 fewer than a year earlier.
Chief executive, Helena Helmersson, said the group had begun the period strongly, but that covid-19 had gone on to have “a significant impact” on its results.
It said that, during the 12-month period, the percentage of “recycled or other sustainably sourced materials” it had used was 64%, compared to 57% the year before. It reiterated that it aims to make sure all of the materials it uses are recycled or otherwise sustainably sourced by 2030.
In 2020, 100% of the company’s suppliers of leather products were signed up to the ZDHC programme, which aims to eliminate the discharge of hazardous chemicals in the fashion supply chain. It said its suppliers of leather, finished leather products and textiles achieved 88% compliance with the ZDHC manufacturers’ restricted substance lists last year. H&M said it would continue to drive towards 100% compliance.
