This swanky black and white striped dress with a sheer bodice is from the H&M fall 2010 collection, and it's selling for $4.95.
While production costs in China are rising, according to the Post, and hitting the wallets of consumers who frequent stores like Forever 21 and Macy's, prices are actually going down over at H&M. A $4.95 dress, and I'll say they're going down -- even for H&M's low-cost standards.
Jennifer Uglialoro, H&M's PR director, explained to Vogue just how H&M can can swing selling dresses for under $5.
"We have over 2,000 stores in 37 countries. This provides high volume and there is no middleman. We have our own team of over 100 in-house designers and we do all our own production." Asked about working conditions in the many countries where H&M merchandise is produced, Uglialoro sends over the company's Code of Conduct, which discusses H&M's stands on child labor, health and safety, sustainability, and other issues. And there's a Q&A section on their Web site where questions like, "Why don't you pay the factory workers more?" and "How does H&M check that suppliers are abiding by its Code of Conduct?" are addressed.
"This season, we bumped up the fashion and lowered the prices even more,” Uglialoro says, explaining that in response to tough economic times, the chain is more dedicated than ever to making its products less expensive. “It’s the same business concept we’ve had for over 60 years, but this season we’re focused even more on a lower price. We’re very cost-conscious; for fall you’ll be seeing trench coats for $20.”
Trench coats for $20? Yippee!
Hmm, I hope other stores get a load of this and not only lower their prices but consider being open about their production policies in other countries.
Can you believe it? $4.95.
Image via H&M