×
824
Fashion Jobs
EASY JOB CENTRE
Sales Executive (Woven Fabric) (Ref no.: 052774)
Permanent · HONG KONG
EASY JOB CENTRE
Technical Manager (Bra & Underwear) (Ref no.: 036207)
Permanent · HONG KONG
EASY JOB CENTRE
Senior Sales Executive (Woven Fabric) (Ref no.: 054126)
Permanent · HONG KONG
EASY JOB CENTRE
Sales Manager (Woven Fabric) (Ref no.: 054125)
Permanent · HONG KONG
EASY JOB CENTRE
Sales Manager (Woven) (Ref no.: 054677)
Permanent · HONG KONG
YORK SOLUTIONS LIMITED
奢侈品牌服飾 - 區域經理 Area Manager
Permanent · HONG KONG
YORK SOLUTIONS LIMITED
E-Commerce Brand Manager 25-40k (T-Mall, Taobao, Wechat Store, Etc)
Permanent · HONG KONG
YORK SOLUTIONS LIMITED
(Assistant) Key Account / Category Manager
Permanent · HONG KONG
YORK SOLUTIONS LIMITED
名牌手袋 / 鞋履 / 配飾 - 區域經理 Area Manager
Permanent · HONG KONG
YORK SOLUTIONS LIMITED
Fashion Buyer / Demand Planner / Merchandiser (Rtw, Accessories) 25-35k
Permanent · HONG KONG
YORK SOLUTIONS LIMITED
Human Resources Officer (c&b / Recruitment)
Permanent · HONG KONG
YORK SOLUTIONS LIMITED
(Assistant) E-Commerce (Digital) Manager 35 - 50k (Marketing, Online, New Channel, Retail)
Permanent · HONG KONG
YORK SOLUTIONS LIMITED
時尚品牌服飾 - 區域經理 Area Manager
Permanent · HONG KONG
YORK SOLUTIONS LIMITED
(Assistant) Production / Operations Manager (Manufacturing, Base in Dongguan)
Permanent · HONG KONG
EASY JOB CENTRE
IT Support (Garment) (Ref no.: 053827)
Permanent · HONG KONG
EASY JOB CENTRE
Analyst Programmer (Hardline / Garment Buying Office) (Ref no.: 047237)
Permanent · HONG KONG
EASY JOB CENTRE
Programmer (Hardline/ Garment Buying Office) (Ref no.: 049608)
Permanent · HONG KONG
HILLMAN ROSS
Senior Manager - Commercial Analysis
Permanent · HONG KONG
HILLMAN ROSS
Assistant General Manager, Technical (Lingerie)
Permanent · HONG KONG
HILLMAN ROSS
Sales & Marketing Executive - Appeal
Permanent · HONG KONG
HILLMAN ROSS
Senior/ Category Manager - Beauty
Permanent · HONG KONG
EASY JOB CENTRE
Technical Manager (Bra & Underwear) (Ref no.: 055811)
Permanent · HONG KONG

H&M gets tough with landlords

Published
today Sep 9, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Amid turbulent times on the UK high street and a wave of CVAs, H&M has taken a leaf out of its British rival’s books by asking landlords to switch to turnover-based rents.


Reuters


The request has reportedly rattled landlords, particularly because H&M not only wants rents to be determined by the revenue generated in each store but also because it is proposing to deduct any in-store returns, including those from online purchases, from a shop’s revenues.

The move would mean property owners will receive less rent, putting more pressure on their retail property values.

H&M Group has more than 300 stores in the UK, operated under its Cos, Monki, Cheap Monday, & Other Stories, H&M, and Arket fascias.

In recent months the Swedish retailer has seen several rivals, including Topshop, New Look and Mothercare, go down the CVA route to reduce the size of their store portfolio. Other British retailers like Next and Primark are demanding similar rent cuts from landlords to level the playing field.

But some property owners consider H&M’s demands as too aggressive, reported The Sunday Times. The clothing giant is offering landlords ‘total occupational deals’, where they propose giving landlords a turnover-based sum leaving them to divide it between service charge, rent and business rates. 

The fact that business rates are more expensive than rent in some locations will mean some landlords will have to agree to the terms in a bid to ensure their business rates and service charge bills are covered.  

The newspaper said some landlords have already rejected the offer.

An H&M spokesperson said: “Like every retail business, we work with our landlords to draw up lease agreements that allow us to run a successful store portfolio. We won’t discuss the details of individual contracts as we consider this information to be commercially sensitive.”

Copyright © 2019 FashionNetwork.com All rights reserved.