H&M becomes first major fashion brand to commit to raising prices to support wage increase for Bangladesh supply chain workers
"H&M increases prices paid to its Bangladesh garment suppliers" Nov 24 2023
Founder & CEO of Bangladesh Apparel Exchange, Mostafiz Uddin has confirmed to Just Style he received a letter from Swedish fashion retailer H&M stating it is increasing prices paid to garment manufacturers in-line with the recent rise of minimum wages in Bangladesh.
Uddin claims H&M has become the “first” global brand to increase unit prices for garment manufacturers to support this increase in wages, adding that the brand plans to absorb the rise in costs via product prices.
H&M did not return request for comment when approached by Just Style.