H&M has decided to abandon production in Myanmar.
Swedish company Hennes & Mauritz (H&M), the second largest fashion manufacturer and retailer in the global market, has decided to abandon production in Myanmar.
News agencies report that the company will move its production facilities to other locations due to increasing reports of labor law violations in Myanmar garment factories.
H&M joins a long list of global brands that have terminated relations with suppliers in Myanmar. Earlier, Spain’s Inditex Group, Britain’s Marks&Spencer, Ireland’s Primark and other market leaders left the country.
“After careful consideration we have now taken the decision to gradually phase out our operations in Myanmar,” H&M said in an email to Reuters.
“We have been monitoring the latest developments in Myanmar very closely and we see increased challenges to conduct our operations according to our standards and requirements.”
H&M (Hennes & Mauritz) is a Swedish international retailer specializing in fashion apparel, accessories and cosmetics. The company was founded in 1947 and has become one of the world’s largest and most popular fast fashion brands.
Much of the funds will double production capacity at the Prada plant in Torgiano, Umbria.
Several goods will become cheaper, individual items by 20%.
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