A CRIMINAL CASE HAS BEEN INITIATED AGAINST H&M FOR A FAILURE TO PAY FEES

According to preliminary data, customs officials suppose that the subsidiary company of H&M for several years simply did not indicate a certain number of license fees that were paid when importing goods in the declarations.

Two years earlier, after an audit had been conducted, 3.1 billion rubles were allocated to cover the non-compliance.

Despite this, the initiated case may end with a fine, the amount of which will be twice as large as the paid amount.

For a moment, the company's press service in Stockholm, where the office is located, confirmed the investigation, but did not provide any additional information.

This year, Swedish brand H&M will celebrate its 74th anniversary. For this period, the company managed to became the largest in Europe and one of the world leaders. The history of the brand began with the opening of one small store called Hennes (Swedish for her) by Erling Persson. Then Persson acquired a large Stockholm store Mauritz Widfors, which specialized in menswear.

The decision to merge these names gave rise to the Hennes & Mauritz alliance, which eventually transformed into H&M.