The consequences of the corona crisis and the Uyghur problem are taking their toll on the Swedish fashion chain H&M. In the Chinese business metropolis of Shanghai, the world number two behind Inditex (Zara) is now closing its flagship store. The three-story store, which opened in 2007, had no sign of H&M on Friday.
For the Swedes, the closure of their former flagship and first store in China is another sign of the problems in the People’s Republic.