August 16, 2013
Tigrai Online - The Swedish fashion retailer Hennes and Mauritz (H&M) announced on Friday it would expand to Ethiopia making Ethiopia one of its suppliers. The high fashion company said it has already placed test orders with Ethiopian Suppliers. H&M is planning to build factories in this autumn."
We are an expansive company and are constantly looking at new potential purchasing markets to guarantee that we have capacity to deliver products to all stores in our expansive markets," H and M spokeswoman Camilla Emilsson-Falk told AFP.
"We do that by increasing the productivity on the existing production markets as well as looking at new markets," she added.
Ethiopia has rich and long history in textile and leather production. Lately Ethiopia has being building state of the art textile factories. Ethiopia’s cotton production is one of the best in Africa.
H&M is one latest international companies coming to Ethiopia. Many Chinese, Indian, Turkish, German, Saudi and many companies in the textile, mining, leather, farming and construction industries have been flowing to Ethiopia for past 10 years.
Since 2004 for the past 10 years Ethiopia has registered from 9% to 11% annual economic growth making one of the fastest economic countries in the world.