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H&M Confirms it Has Rights to Justin Bieber Merchandise

The logo of H&M is on display outside a store on the day it closes, as the fashion retailer exits the Russian market, in Moscow, Russia November 30, 2022. REUTERS/Evgenia Novozhenina
The logo of H&M is on display outside a store on the day it closes, as the fashion retailer exits the Russian market, in Moscow, Russia November 30, 2022. REUTERS/Evgenia Novozhenina
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H&M Confirms it Has Rights to Justin Bieber Merchandise

The logo of H&M is on display outside a store on the day it closes, as the fashion retailer exits the Russian market, in Moscow, Russia November 30, 2022. REUTERS/Evgenia Novozhenina
The logo of H&M is on display outside a store on the day it closes, as the fashion retailer exits the Russian market, in Moscow, Russia November 30, 2022. REUTERS/Evgenia Novozhenina

Swedish clothes retailer H&M said on Thursday it had the rights to sell Justin Bieber merchandise it pulled from stores this week after the popstar said he had not given his approval.

"Justin's license holder has confirmed that H&M had the right contracts in place and followed all proper approval procedures for each selected design," H&M wrote in a statement.

On Monday, Bieber urged his 270 million Instagram followers not to buy the merchandise, calling it "trash" and said it was on sale without his approval. H&M pulled the items from sale.

"Out of respect for Justin, we removed the products from our site and stores, and we're working to find the best way to make use of them," H&M said, adding that the company had been Bieber's merchandise partner since 2016.

H&M, the world's second biggest fashion retailer, offered hoodies, t-shirts and sweatshirts with pictures of Bieber or quotes from his lyrics such as "I miss you more than life" from the song "Ghost".

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Fashion

Hugo Boss Third Quarter Operating Profit Beats Expectations on Better Cost Control

New Hugo Boss logo and their website shop are seen in this illustration taken, May 17, 2024. (Reuters)
New Hugo Boss logo and their website shop are seen in this illustration taken, May 17, 2024. (Reuters)
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Hugo Boss Third Quarter Operating Profit Beats Expectations on Better Cost Control

New Hugo Boss logo and their website shop are seen in this illustration taken, May 17, 2024. (Reuters)
New Hugo Boss logo and their website shop are seen in this illustration taken, May 17, 2024. (Reuters)

Hugo Boss' third-quarter operating profit slightly beat market expectations on Tuesday, as the company reported a 1% increase in currency-adjusted group sales amid persistently weak demand in China.

Quarterly earnings before interest and tax (EBIT) were down 7% on the year at 95 million euros ($103.3 million), but above analysts' estimate of 90 million euros in a company-provided poll, helped by cost management, it said.

Hugo Boss shares were indicated 2.5% higher in Lang & Schwarz premarket trade.

"Estimates for the coming quarter should be anchored today," analysts at Jefferies wrote in a note to clients, highlighting improved sales in September, better cost control and Hugo Boss' confirmed guidance for the year.

After a 2022 brand revamp boosted its resilience last year, the upmarket fashion label has been grappling with weakening consumer demand despite increasing investment in marketing and production capacity in recent months.

Currency-adjusted sales were 1.029 billion euros during the three months, slightly up from 1.027 billion last year and broadly in line with market expectations of 1.023 billion euros.

"Particularly in China, the overall market environment was affected by persistent subdued consumer demand," the company said in a statement.

Quarterly currency-adjusted sales in its third-biggest market Asia/Pacific fell 7% to 110 million euros, but increased 1% in the Europe, Middle-East and Africa region and 4% in the Americas.

The company said improvements in Germany offset softer sales trends in France and in Britain, while it also saw further sales improvements in the United States.

Hugo Boss, which is taking additional measures to enhance efficiency and effectiveness, especially around sourcing, said it continued to focus on cost control to support profitability into the fourth quarter. It maintained its full-year sales and earnings forecasts after slashing them earlier this year.