H&M are planning to raise their retail prices

H&M have outlined plans to raise their retail prices

H&M has outlined plans to raise their retail prices, in order to pay better wages to textile workers.

In November, the Swedish store, which has 226 stores in the UK alone, pledged to increase the pay rate of some of the world's poorest textile workers. In Bangladesh, a place which has seen much tragedy recently owing to poor working conditions in textile factories, workers can earn less than £42 a month. That's just over £1 a day.

Speaking at a meeting with pressure groups in Stockholm, H&M's Head of Sustainability, Helena Helmersson, said that higher prices 'might be a possibility', but that customers wouldn't see a hike in the near future.

Viveka Risberg, a spokesperson from Swedwatch which monitors multinational corporations, said: 'It's the first time ever they have said they were willing to raise prices and that consumers were now ready for that.'

The high street store's commitment to ethical work and cosumer practices is longstanding. Last month, it halted production on its angora products after news emerged that rabbits in agora farms in China were being mistreated. 

Then there's their eco-friendly collection, Conscious Exclusive, which offers stylish and affordable eveningwear, which is also environmentally friendly. Helen Hunt, a lover of fashion and sustainability, wore a dress from the line for this year's Oscars. 

'H&M is making sustainable clothes, which I love, so it's a win-win-win,' the actress said at the time.

What do you think of H&M's new plans?

By Olivia Marks

Got a tablet? You can now download In Style magazine straight to your iPad, Kindle (just search the store for 'instyle magazine'), Nook or Google Nexus

Continued below...