Aiming to tailor CSR communication to the specific needs of stakeholders, previous studies have identified different stakeholder characteristics that influence communication reception. At this point, it is, however, unclear how these constructs interact. This study empirically examines how stakeholders’ attitude towards a given company, their involvement, and their knowledge levels simultaneously interact and influence the reception of CSR communication. 21 participants were asked to read the CSR report of the fashion brand H&M and to think-aloud. Afterwards, semi-structured interviews were conducted. A mixed-method approach (content analysis and correspondence analysis), which considers the relationship between the different stakeholder characteristics, identifies two clusters of stakeholders:1.interested, well-informed stakeholders who are very critical concerning CSR activities2.stakeholders with low involvement and knowledge levels, but positive attitude towards H&M and their CSR activitiesIn the framework of communication these findings contribute to a better understanding of reception and can be applied in practice to develop target-group specific CSR communication strategies.