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

by DailyBriefers August 17, 2023

August 17, 2023 10 comments

Business & Finance

17 August 2023, 8:14 pm 1 minute

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

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