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Thursday, February 22, 2024

H&M to increase rates of Bangladesh-sourced apparels

Swedish fashion retailer H&M said it would pay a higher rate for the garments, which it sources from Bangladesh, to offset the increase in minimum wages of apparel industry workers.

H&M, one of the world’s biggest fashion retailers, added that it will absorb the rise in garment workers’ wages which grew to Taka 12,500 per month or 56 percent.

“We fully support payment of fair and competitive wages in our supply chain, while also improving working conditions of workers,” media reports quoted H&M as saying.

Bangladesh witnessed violent protests after the minimum wages were raised to a level not acceptable to the workers.

On the other hand, clothing exporters from the country were also worried that the wage hike would eat into their thin profit margins, as garment brands and retailers would not increase their prices.

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