H&M’s profits have reportedly plunged following the controversy surrounding its racist monkey hoodie ad. The Swedish fashion retailer was forced to appoint a diversity leader following the outcry over its ad that showed a black boy dressed in a hoodie with the words “coolest monkey in the jungle.” Back in January, the retailer said on Facebook that it’s “commitment to addressing diversity and inclusiveness is genuine, therefore we have appointed a global leader, in this area, to drive our work forward.” But in the months following #Hoodiegate, H&M’s earnings have taken a huge hit.
Source: H&M’s Profits Plunge Following Racist ‘Coolest Monkey’ Hoodie Ad
