H&M still suffering from its past mistakes.
We're all well aware of the controversial happenings that H&M has been dealing with. First, there was the monkey hoodie that a young black boy modelled - leading G-Eazy and The Weeknd to drop their campaigns with the company. More recently the retail house was accused of copyright infringement taking work from a graffiti artist.
H&M's latest sportswear line featured a model in front of a piece of art by Jason 'Revok' Williams. The artist filed a cease and desist but H&M responded saying he had no "copyright rights to assert.”
All that's happened in the last few months alone makes it come as no surprise that they are reportedly sitting on $4.3 billion worth of unsold merchandise, The New York Times reports. We previously posted that the Swedish fashion house has dipped 62% in its first-quarter earnings - marking the lowest value the company has had since 2005.
The publication says some critics are blaming the unsold stock on poor inventory management and products that don't appeal to the masses. CEO Karl-Johan Persson says the merchandise is for the increase of apparel that the 220 new stores will be using.
Whether Karl's words are true or not, H&M has without a doubt been shamed from their poor campaign choices and some of that unsold merchandise has to be because of that.