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H&M Surveying Africa as its Next Production Hub

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H & M Hennes & Mauritz AB (STO:HM-B), the Swedish clothing retailer is eyeing sub-Saharan Africa has a future production hub. H&M already produces clothing on a small scale in Ethiopia. The retailer is looking to make the continent a complementary apart of its production chain, which consists of China, Cambodia, and Bangladesh. A combination of GDP growth and a rising a middle class has H&M seeing a huge upside in sales for the region. This spring, H&M will survey more locations in Africa for production facilities and stores.