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Published on Friday, 07 November 2014

One new store a day: sustainable?

Written by John Mowbray

H&M Melbourne store, Lucas Dawson Photography

STOCKHOLM – H&M CEO Karl-Johan Persson has defended his company's rampant growth, which will see it open nearly a store a day this year, and claimed the company is ahead of schedule in its goal of achieving 100 per cent sustainability by 2020. Persson, whose business now has more than 3,300 stores globally, many of them increasingly gargantuan in size, was talking at the annual BSR sustainability conference. Persson argued that consumption creates lots of jobs and suggested that any reduction in consumption could impact negatively on the global economy. He also reiterated the much-repeated argument that consumption creates income generation and jobs in developed countries.