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H&M

H&M ‘Choo’-ses new shoe partner

Swedish clothing retailer H&M will be offering Jimmy Choo shoes and bags in select stores this autumn, the company announced on Wednesday.

H&M 'Choo'-ses new shoe partner

Starting November 14th, nearly 200 H&M outlets around the world will feature fashion accessories bearing the name of the famed British accessory brand.

“We adore Jimmy Choo’s shoes and bags. They are glamorous and sexy, and they add instant style to the simplest of outfits,” said H&M creative advisor Margareta van den Bosch in a statement.

The collaboration with Choo marks the first time that H&M has worked with an accessory brand to offer high-end brand names through its discount fashion retail outlets.

“We are privileged to be among the fashion greats who have been affiliated with H&M so far, and to be designing a collection appealing to fashion savvy, street smart women,” said Jimmy Choo founder Tamara Mellon in a statement.

Following its launch in 1996, Jimmy Choo quickly made a splash in Hollywood, often featured on the feet of glamourous actresses like Cate Blanchett, Halle Berry and Hilary Swank as they strode down the red carpet.

The shoes also gained notoriety as a favourite of Carrie Bradshaw, the main character of the “Sex and the City” television series played by Sara Jessica Parker.

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BUSINESS

Swedish retailer H&M sees profits slump after Russia exit

Swedish fashion retailer H&M reported a sizeable drop in third-quarter profit on Thursday following its decision to leave the Russian market.

Swedish retailer H&M sees profits slump after Russia exit

The world’s number two clothing group is among a slew of Western companies that have exited Russia following Moscow’s invasion of Ukraine.

H&M paused all sales in the country in March and announced in July that it would wind down operations, although it would reopen stores for “a limited period of time” to offload its remaining inventory.

The company said Thursday its net profit fell to 531 million kronor ($47 million) in the third quarter, down 89 percent from the same period last year. “The third quarter has largely been impacted by our decision to pause sales and then wind down the business in Russia,” chief executive Helena Helmersson said in a statement.

The group said in its earnings statement that it would launch cost-cutting measures that would result in savings totalling two billion kronor.

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