China boycotts are a warning to Western brands

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here.What’s happening: The retailers face boycotts because of stands they’ve taken in the past against the alleged use of forced labor to produce cotton in China’s western region of Xinjiang.Dozens of Chinese celebrities have terminated contracts or said they’ll cut ties with the brands, while H&M, the world’s second largest clothing retailer, has been pulled from major e-commerce sites.Investor insight: Nike shares tumbled more than 3% Thursday on Wall Street, while Adidas sank more than 6% in Frankfurt. In London, Burberry lost more than 4%. H&M’s stock

→ Continue reading at CNN - Business News

More from author

Related posts

Advertisment

Latest posts

Ransomware attack on Planned Parenthood exposes 400,000 patients' personal data

The unidentified perpetrator stole documents from the Planned Parenthood affiliate that contained sensitive data on some patients such as their insurance information, their diagnosis,...

Improving Employee Collaboration in the Post-Pandemic Workplace

Opinions expressed by Entrepreneur contributors are their own. When I founded Netskope nine years ago, I decided that no matter how much...

How to participate in Shark Tank México, step by step guide

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process. Do you think you...