H&M squares up to landlords with aggressive rents stance
H&M has butted heads with landlords after demanding that new rent agreements deduct returns from revenue.
The Swedish fashion titan is not only pushing for turnover-based rents, but also demanding that items returned to store, including from purchases made online, be deducted from that shop’s revenue, industry sources told The Times.
The fashion group operates 304 stores across its 4,739-strong global store estate in the UK under fascias including H&M, Monki and & Other Stories as well as recently debuted stores H&M Home, Arket and Weekday.
Turnover-based rents are becoming an increasingly popular means of cutting down costs, with businesses from Mike Ashley acquisition House of Fraser to healthier brands such as Next reportedly demanding rent cuts on these terms.
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