H&M says it will "phase out" sourcing from Myanmar | Reuters News Agency
Business & Finance

H&M says it will “phase out” sourcing from Myanmar

17 August 2023, 8:14 pm 1 minute
By Reuters News Agency

Reuters exclusively reported that the world’s second-biggest fashion retailer H&M (HMb.ST) has decided to gradually stop sourcing from Myanmar, as reports of labor abuses in garment factories in the country increase.

Market Impact

H&M became the latest brand to cut ties with suppliers in the country after Zara owner Inditex (ITX.MC), Primark (ABF.L), Marks & Spencer (MKS.L) and others. 



Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceRetail & Consumer Goods
Regions: Europe
Countries: MyanmarUK
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
Workers tailor and arrange clothing at a garment factory at Hlaing Tar Yar industry zone in Yangon March 10, 2010. Western sanctions that have decimated Myanmar's once-thriving garment sector have led to a rare spate of strikes that have unnerved its military rulers, fearful of civil unrest in the run-up to long-awaited elections. REUTERS/Soe Zeya Tun (MYANMAR - Tags: SOCIETY BUSINESS MILITARY CIVIL UNREST)
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