Because the continent of Africa is not fully developed, people think twice before investing money within any of its countries.
However, enormous companies want and continuously expand their businesses, and this at times includes global expansion.
Fashion retail giant Hennes & Mauritz (H&M) have recently been using models of cultural backgrounds, including brothers of African descent, Fernando and Armando Cabral. More so, H&M is looking at Africa in a deeper sense.
CEO Karl-Johan Persson announced earlier this month that instead of heavily depending on Asia as a production site, the company plans to produce garments in Africa on a much larger scale. The political violence and factory collapses in Asia give H&M all the more reason to embark on this potential venture.
Due to the rapid increase of the middle-class population, Persson feels strongly there may be a great opportunity for sales in Africa. Furthermore, the company has plans to open stores in Egypt, Morocco, and South Africa.
H&M seems optimistic about this notion; so are we!
