INDEX / DIRECTORY / H&M / V-POL

H&M V-POL

POLITICAL AUDIT UPDATED 2026-05-19
V-POL Score 0.61 /10 E H&M — BDS-1000 86
V-POL 0.61

Evidence-only forensic audit. Scoring happens downstream — see the main dossier for the composite assessment.

V-POL Audit: H&M Group

Corporate Communications & Public Stance

H&M has not issued a formal corporate statement on the Israel-Palestine conflict comparable to statements the company has issued on the Ukraine conflict or the Black Lives Matter movement 12. The only documented corporate response to the Israel-Palestine context was in March 2010, when H&M stated “We take no position on religious and political issues” in response to boycott calls over the company’s expansion into Israel 3. In October 2023, H&M confirmed via HR Dive that “the company’s local franchise partner has temporarily, and until further notice, closed all stores in Israel” and that “the safety and wellbeing of our colleagues is of course the main priority” 4. Stores were later quietly reopened with no accompanying public statement 45. CEO Daniel Ervér’s annual letters and investor communications focus on operational performance and sustainability, with no dedicated statement on the Israel-Palestine conflict identified 2. H&M has not issued a public statement specifically addressing civilian harm in Gaza or the West Bank during the 2023–24 conflict period 16. Business of Fashion reporting on Middle East war impact noted H&M’s investor communications acknowledged the conflict as a risk factor without issuing a consumer-facing statement 6.

H&M’s SEC 20-F filed January 2025 describes Israel-Hamas conflict risk as follows: “Although the Group does not have operations or significant direct exposure to customers in Israel or Gaza, the Group’s businesses and operations could be negatively impacted by increased energy costs, supply chain disruptions or adverse impacts on customers arising from a resurgence of the Israel-Hamas conflict” 7. This framing treats the conflict as an indirect supply chain and energy cost issue rather than a human rights or reputational matter 7. H&M’s 2008 franchise press release described the Israel market entry as a standard commercial expansion with no geopolitical framing 8. In March 2010, then-CEO and current Chairman Stefan Persson and H&M’s Head of Communications personally contacted boycott activists and “expressed their concern”; however, the contact did not result in a change to the expansion plan 3.

Operations in Occupied or Contested Territories

As of December 2023, H&M operates 24 stores in Israel, predominantly in the Gush Dan (Tel Aviv metropolitan) region 5. H&M publicly states it does not operate any stores in the occupied areas of East Jerusalem or the West Bank 5. The first H&M Israel store opened in March 2010 at Azrieli Mall, Tel Aviv; a second store opened within days at Malha Mall, Jerusalem 910. The Malha Mall location sits on land associated with the depopulated Palestinian village al-Malha, which was incorporated into Israeli Jerusalem’s municipal area in 1953 — prior to the 1967 occupation that generated the OPT framework; the land history involves 1948 dispossession and the location itself is not in territory Israel captured in 1967 11. H&M is not listed in the UN OHCHR settlement business database (A/HRC/60/19, 158 entities listed, published September 2025) 1213. H&M does not appear in analyses of UN A/HRC/59/23 (Albanese 2025) corporate listings, which focus on construction, real estate, mining, financial services, and hospitality sectors 141516.

No UN OHCHR database listing, no UN Special Rapporteur report naming H&M, and no confirmed regulatory action regarding H&M’s territorial operations were identified 121314. No public evidence identified of H&M being the subject of OECD National Contact Point complaints regarding Israel-Palestine. The BDS National Committee called for a full boycott of H&M in March 2010, specifically citing the Jerusalem Malha Mall store opening and characterizing it as “whitewashing Israel’s colonization of Jerusalem” 9. Twenty-four European and Middle Eastern pro-Palestinian organizations condemned H&M’s Israel entry and called for European boycott in March 2010 10. CJPME published a boycott factsheet citing Israel’s 2008–09 Gaza operation as grounds for urging H&M to close Israeli stores 17. H&M proceeded with its Israeli store rollout following the boycott calls 3. The BDS campaign was re-escalated in December 2023 amid the Gaza war, with social media calls to boycott H&M alongside Starbucks, McDonald’s, and Coca-Cola 6. No legal challenge by H&M against boycott participants was identified.

Internal Governance, Content & Retail Policies

No public evidence identified of H&M taking HR enforcement actions, lawsuits, or internal disciplinary measures against employees for pro-Palestinian speech, pro-Israel speech, union activity, or political expression related to the Israel-Palestine conflict. Searches of Israeli labor court databases, legal databases (Westlaw/Lexis), HR publications, and news archives returned no H&M-specific documented cases. H&M’s documented responses to the 2023–24 Gaza war were limited to temporary store closures and internal employee safety communications 4. No independent reports, academic studies, or regulatory inquiries were identified regarding algorithmic content moderation, editorial suppression, or platform policy decisions by H&M related to the Israel-Palestine conflict. H&M is a retail brand, not a platform; this category is not directly applicable unless referring to H&M’s own digital properties, and no evidence of content moderation on H&M.com or the H&M app related to the conflict was identified.

H&M has published its complete supplier list (approximately 95% of production volume), covering Tier 1 and Tier 2 factories with names, addresses, and worker counts 18. No H&M supplier factories are documented in the West Bank or Gaza; H&M’s production is concentrated in Asia (China, Bangladesh, Vietnam, India, Pakistan, Turkey, Cambodia, Indonesia), Europe (Portugal, Turkey, Romania, Bulgaria, Greece, Italy, Spain), and North Africa (Egypt, Morocco) 18. No regulatory actions regarding labeling, sourcing, or categorization of products from the OPT or settlements were identified.

Who Profits documents ENI Advanced Security Solutions as listing H&M as a client; ENI simultaneously provides security infrastructure for Israeli settlements including a peripheral security system and command center at Barkan settlement (West Bank), winning the Shomron regional council tender, and a security system upgrade at the City of David in Silwan, East Jerusalem 19. Who Profits also documents G1 Secure Solutions (formerly G4S Israel) as listing H&M as a client; G4S has documented extensive involvement in settlement checkpoints, prison security, and surveillance infrastructure in the OPT 20. The contractual relationship is between Match Retail Ltd. (H&M’s Israeli franchisee) and the security providers; H&M Group is not a direct contracting party 81920.

Brand Heritage & State Partnerships

H&M’s brand heritage is commercial (affordable fashion), not military or defense-sector-derived; no evidence was found of H&M utilizing military heritage, defense sector ties, or state-security origins in its commercial branding or public relations. No evidence identified of H&M accepting state honors from the Israeli government, hosting Israeli government officials in a corporate capacity, or entering formal non-commercial partnerships with Israeli state academic or governmental institutions. No evidence identified of H&M participating in “Brand Israel” or similar state-backed cultural public relations campaigns.

H&M is a member of amfori (formerly Foreign Trade Association), a Brussels-based business association that has opposed mandatory EU human rights due diligence legislation 2122. H&M Foundation has partnered with Global Fashion Agenda (GFA) on circularity initiatives; GFA is an industry body, not a state institution 23.

Lobbying, Advocacy, Financing & Logistics

H&M Group is not registered in the EU Transparency Register; no evidence was identified of H&M directly lobbying on anti-BDS legislation, boycott legislation, or trade legislation related to Israel at EU level 21. OpenSecrets records show H&M Construction (a separate entity) with lobbying expenditure records, but no Israeli-related lobbying was identified in the filings 24. H&M has engaged on REACH chemical regulation via ChemSec, a separate advocacy context 22. H&M’s membership in amfori means the association may lobby on H&M’s behalf on supply chain due diligence legislation; amfori has explicitly lobbied the European Parliament against mandatory corporate accountability provisions in the Corporate Sustainability Due Diligence Directive (CS3D) 2122. No evidence identified of H&M lobbying for or benefiting from Israeli anti-boycott legislation (Law for Prevention of Damage to the State of Israel through Boycott, 2011) 25.

H&M Group’s documented 2024 charitable donations include UNHCR ($1,000,000 for emergency humanitarian response), Save the Children ($1,000,000 for emergency humanitarian response), UNHCR Brazil flooding ($250,000), and UN Free & Equal ($100,000 for Pride Month) 26. H&M Foundation donations include UNHCR $3,300,000 (2021, refugee education), UNHCR $100,000 (2022, Ukraine emergency), and UNICEF (ongoing, early childhood development) 2728. No donations to FIDF, JNF/KKL, IDF, or any Israeli military-welfare or settlement-linked organization were identified in H&M Group or H&M Foundation disclosures 26292728. Wikipedia’s FIDF article lists corporate gift-matching partners including BlackRock, Vanguard, Bank of America, Northrop Grumman, Honeywell, Google, Microsoft, Starbucks, and McDonald’s; H&M is absent from this list 29. No documented H&M corporate donations to parastatal organizations, settlement groups, or military-welfare funds during active conflict periods (2009, 2014, 2021, 2023–24) were identified 26. No evidence identified of H&M directing corporate resources, physical logistics, free services, or infrastructure to assist Israeli state, military, or state-aligned NGO efforts during active conflict periods.

Corporate Structure & Primary Mission

H&M (Hennes & Mauritz AB) is a Swedish retail fashion company established in 1947 in Västerås, Sweden; its corporate mission is commercial (affordable fashion retail) 5. No evidence identified that H&M’s founding documents, corporate charter, or stated mission are tied to advancing state geopolitical goals. H&M Group’s SEC 20-F describes its business as “a global fashion retailer” with operations “in 75 markets” 7.

H&M Group operates in Israel exclusively via a franchise agreement with Match Retail Ltd., announced 9 December 2008 8. Match Retail Ltd. is registered at 67 Alon Yigal, Tel Aviv-Yafo with company registration number 514200708; key principal is listed as Amihai Kilstein per Dun & Bradstreet (2024) and Yael Raiter per Prospeo (2024) 303132. The Horesh family (Andrew Horesh as Chairman; George Horesh as owner of parent Union Group) fully owns Match Retail Ltd. 833. Union Group also operates Toyota/Lexus distribution (Union Motors, Lex Motors), COS franchise, & Other Stories franchise, mobility businesses (Union Mobility, EVedge, Ryde), real estate, and venture tech (Union Tech Ventures) 33. Who Profits documents Union Motors as distributing Toyota vehicles used by IDF in West Bank settlement operations, checkpoints, and house demolitions 34. H&M Group does not hold a direct equity stake in Match Retail Ltd. beyond the franchise licensing arrangement 8. The franchise model provides legal and operational separation; H&M Group receives brand royalties but does not own or directly operate Israeli stores 8.

Stefan Persson (former Chairman and CEO, 1982–2020) is the largest individual shareholder, holding approximately 36% of H&M shares via Ramsbury Invest 35. The Persson family collectively controls approximately 64% of H&M shares as of 2025; Ramsbury Invest has accelerated share purchases in 2023–2025 3635. No state-held golden shares or government ownership interests in H&M Group were identified.

Executive & Leadership Footprint

No documented personal donations, family foundation grants, or fundraising efforts by H&M founders, C-suite executives, or majority shareholders directed toward FIDF, JNF/KKL, IDF, settlement organizations, or Israeli military-welfare funds were identified. Stefan Persson’s known philanthropy includes the Mentor Foundation (substance abuse prevention) and the Erling-Persson Family Foundation (supports Stockholm School of Economics) 35. Ramsbury Invest has invested in the Norrsken Foundation (social impact); no Israeli military or settlement-linked giving identified.

Stefan Persson’s personal engagement with the Israel-Palestine context was limited to the March 2010 contact with BDS activists expressing “concern” 3. No op-eds, social media activity, or public statements by Karl-Johan Persson (current Chairman), Daniel Ervér (CEO), or other H&M executives specifically addressing the Israel-Palestine conflict were identified.

Klas Balkow (board member proposed for 2024 AGM, elected 2025) has a disclosed board assignment: member of the Swedish Armed Forces’ Oversight Council (Försvarsmaktens överstyrelseråd), in addition to board membership at Axel Johnson AB 3738. The Swedish Armed Forces’ Oversight Council is a civilian advisory and governance monitoring body within the Swedish Armed Forces structure, covering policy, plans, and oversight; it is not a military procurement or contracting entity 3940. No evidence identified of Klas Balkow’s oversight council role creating a direct conflict with H&M’s operations or connections to Israeli defense procurement 3940. Lottie Tham (Stefan Persson’s sister) serves on H&M’s nomination committee 37. No other H&M board members with documented defense-industry, settlement-NGO, or Zionist philanthropy affiliations were identified.

End Notes

Footnotes

  1. https://hmgroup.com/media/news ↩ ↩2

  2. https://hmgroup.com/investors/annual-and-sustainability-report/ceo-letter ↩ ↩2

  3. https://mondoweiss.net/2010/03/pressure-mounts-on-swedish-clothing-chain-that-finds-israel-vogue ↩ ↩2 ↩3 ↩4

  4. https://www.hrdive.com/news/hamas-attacks-israel-gaza-conflict-work-from-home/696038 ↩ ↩2 ↩3

  5. https://en.wikipedia.org/wiki/H%26M ↩ ↩2 ↩3 ↩4

  6. https://www.businessoffashion.com/news/retail/next-hm-warn-of-consumer-impact-if-middle-east-war-persists ↩ ↩2 ↩3

  7. https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001352124&type=20-F ↩ ↩2 ↩3

  8. https://hmgroup.com/news/hm-enters-into-franchise-agreement-for-store-openings-in-israel ↩ ↩2 ↩3 ↩4 ↩5 ↩6

  9. https://bdsmovement.net/news/hm-whitewashing-israels-colonization-jerusalem ↩ ↩2

  10. https://bdsmovement.net/news/european-groups-boycott-hm-over-israel-stores ↩ ↩2

  11. https://www.jpost.com/business-and-innovation/real-estate/article-807056 ↩

  12. https://www.ohchr.org/en/business/bhr-database ↩ ↩2

  13. https://documents.un.org/en/A/HRC/60/19/ ↩ ↩2

  14. https://palestinakomiteen.no/images/2026/Gjennomgang%20av%2024%20selskaper.pdf ↩ ↩2

  15. https://www.perunalacitta.org/homepage/2025/07/03/le-multinazionali-complici-del-genocidio-palestinese-il-rapporto-di-francesca-albanese ↩

  16. https://www.achact.be/content/uploads/2026/01/20251219_Achact_study-fashioning-apartheid-EN_VF2.pdf ↩

  17. https://www.cjpme.org/h_m ↩

  18. https://hmgroup.com/sustainability/leading-the-change/transparency/supply-chain ↩ ↩2

  19. https://www.whoprofits.org/companies/company/4133 ↩ ↩2

  20. https://www.whoprofits.org/companies/company/3798 ↩ ↩2

  21. https://transparency-register.europa.eu/search-register-or-update/search-register_en ↩ ↩2 ↩3

  22. https://chemsec.org/hm-urges-eu-leaders-to-secure-an-ambitious-reach-revision ↩ ↩2 ↩3

  23. https://globalfashionagenda.org/news-article/gfa-and-hm-foundation-forge-partnership-to-accelerate-circularity ↩

  24. https://www.opensecrets.org/orgs/h-m-construction/summary?id=D000051598 ↩

  25. https://en.wikipedia.org/wiki/Anti-BDS_laws ↩

  26. https://hmgroup.com/sustainability/fair-and-equal/community-engagement ↩ ↩2 ↩3

  27. https://hmfoundation.com/our-story ↩ ↩2

  28. https://www.unhcr.org/media/press-release-h-m-foundation-donates-3-3-million-education-refugee-children ↩ ↩2

  29. https://en.wikipedia.org/wiki/Friends_of_the_Israel_Defense_Forces ↩ ↩2

  30. https://www.dnb.com/business-directory/company-profiles.match_retail_ltd.d518e3e91bebac0ed4f49ede27a42277.html ↩

  31. https://en.checkid.co.il/company/MATCH+RETAIL++LTD-1aVQdjw-514200708 ↩

  32. https://prospeo.io/c/h-m-israel-match-retail-email-format ↩

  33. https://www.linkedin.com/company/uniongroupautomotive ↩ ↩2

  34. https://www.whoprofits.org/companies/company/4189 ↩

  35. https://en.wikipedia.org/wiki/Stefan_Persson_(magnate) ↩ ↩2 ↩3

  36. https://www.reuters.com/business/retail-consumer/billionaire-hm-founding-family-speeds-up-share-purchases-2025-07-01 ↩

  37. https://hmgroup.com/news/hms-nomination-committee-proposes-klas-balkow-as-new-board-member ↩ ↩2

  38. https://hmgroup.com/about-us/corporate-governance/board-of-directors ↩

  39. https://www.forsvarsmakten.se/en/about-the-swedish-armed-forces/organisation/the-leadership-of-the-swedish-armed-forces ↩ ↩2

  40. https://grokipedia.com/page/administration_board_of_the_swedish_armed_forces ↩ ↩2