H&M Must Source More Near Main Markets to Beat Tariffs, CEO Says

Swedish fast-fashion retailer Hennes & Mauritz AB is speeding up efforts to source goods from manufacturers closer to its main markets as US tariffs and geopolitical turmoil complicate trade.

“Overall our shift is to reduce our lead times and increase our flexibility by having manufacturing options closer to primarily Europe but also Latin America and the USA,” Chief Executive Officer Daniel Erver said in an interview on Thursday. “This strategy is even more relevant now with all the changes we’ve seen, and we need to increase the pace to find even more alternative suppliers.”