How China, Russia and Shein Have Weighed on H&M’s Profits | WSJ What Went Wrong

After decades of expansion, H&M is facing new challenges such as rising competition from rivals like China’s Shein and the impact of the Ukraine war.

The fast-fashion retailer’s attempts to rebound from the coronavirus pandemic have been hindered by geopolitical and economic challenges.

Illustration: Amogh Alva Vaz

0:00 H&M reported one of its worst years in two decades. What went wrong?
0:48 How the war in Ukraine has affected H&M
1:40 How relations with China have affected H&M
2:28 What competitive advantages do Shein and Zara have over H&M?
3:30 How can H&M recover?

What Went Wrong explores the challenging conditions and decisions that led to a company's downturn.

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