A news article by Sweden’s local publication, Phnom Penh Post informs, multinational clothing retail company H&M plans to open its first store in Cambodia next year.
The store will be part of H&M’s business expansion in the region, at a time when world economies are starting to emerge from COVID-19 crisis mode with accelerating coronavirus vaccine rollouts.
Ken Loo, Secretary General, Garment Manufacturers Association in Cambodia says, H&M has been a long-term supporter of Cambodia’s export-oriented garment industry and would continue to be so for many more years to come, as long as the country can maintain and improve its competitiveness.
The store opening signifies strong economic growth with increased domestic consumption by local Cambodians. It would also help improve the state of fashion in the country, particularly for the young generation, he adds.
H&M already has a large presence in the region with 11 stores in Vietnam and 43 in Thailand. The company has been manufacturing its products in Cambodia since the 1990s.