H&M’s credibility gap

Erver: We are doing a very long-term, extensive job of building a stronger H&M. — Bloomberg

FROM a conference room atop Hennes & Mauritz AB’s (H&M) headquarters in the heart of Stockholm – with its brown-toned wood and clean lines giving the space a distinctly Scandinavian feel – chief executive officer (CEO) Daniel Erver speaks of reviving the one-time Swedish high-flyer.

What he’s up against is a credibility problem.