Moody’s on Monday said the withdrawal of a duty-free trading access by the European Union for Cambodia over the Southeast Asian nation’s human rights record would have a negative effect on European investments.
The Associated British Foods-owned fashion chain has emphasised its commitment to environmental standards and safer working conditions as it fights for market share in discount-loving Germany and other countries.
An EU decision to ramp up trade pressure on Cambodia has alarmed unions in its garment industry, a pillar of the economy, but a key grouping of manufacturers said the risk would take months to materialise.
Menswear personalised styling service Thread has raised almost £17 million (actually $22 million) in Series B funding with the company’s latest investment round attracting H&M’s investment arm, among others.
Fast Retailing, owner of Japan’s popular clothing chain Uniqlo, booked a record annual profit and forecast even stronger results in the current year, helped by growth in Asia and a recovery at its US stores.