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!