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Gap has been hemming and hawing over signing the Accord on Fire and Building Safety in Bangladesh—a global accord aimed to prevent more factory disasters in Bangladesh—and they appear to be no closer to a resolution following the company's annual meeting on Tuesday.
According to Reuters, Gap's primary objection is language about how conflicts are resolved in court. Per the current draft of the accord, US-based companies would be held accountable in the US for violations made abroad.
"We've not given up that a global accord of some kind can be worked out," Gap CEO Glenn Murphy said at the meeting. But others involved in the Accord are not so optimistic. Reuter's reports that IndustriALL, a union organization based in Europe that helped create the pact, had said the agreement "could not be amended to address concerns of U.S. companies."
Zara parent company Inditex and Hennes & Mauritz of H&M fame—who, along with Gap Inc., round out the top three apparel companies in the world—have signed on, in addition to 30 other European companies. So far, US retailer signatures include only PVH Corp (Tommy Hilfiger, Calvin Klein) and Abercrombie & Fitch Co.
· Gap Willing to Sign Bangladesh Safety Accord, If Tweaked [BoF]
· Bangladesh Wire [Racked]
· Would You Pay More for Target's Phillip Lim Collab if it Were Ethically Made? [Racked]