H&M will not rush into withdrawal from Myanmar

International businesses are starting to reassess their investments in Myanmar after last week’s military coup where the Myanmar military seized power and arrested civilian leaders and other political figures.

Swedish multinational retail-clothing company H&M is no exception, but the company has stated that it will not rush into withdrawal from Myanmar.

Verisk Maplecroft, global research firm specializing in global risk analytics, had warned that reputational and legal risks following the military coup is something retailers and other fashion brands could face if they continue sourcing from Myanmar.

The statement led major brands including H&M to confirm that they were following the situation closely and monitoring the development before making any final decision whether to stay or pull out of the country. The fashion giant stated its “acutely aware” of the threat of such a move to the country’s garment workers.

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