Swedish retailer H&M AB told its suppliers in Bangladesh that it won’t seek discounts due to delays that might occur after factories were shut down by deadly protests.
Plants in Bangladesh remained closed on Tuesday afternoon, despite the lifting of a curfew in the country, according to an email from an H&M spokesperson. The company will continue to monitor the situation on a daily basis, the spokesperson said.
Earlier in the day, Bangladesh President Mohammed Shahabuddin directed authorities to lift the curfew following more than two weeks of clashes between supporters of ousted leader Sheikh Hasina, security forces and student-led protesters. The president also dissolved the national parliament, paving way for the formation of a military-backed interim government and new elections.
China and Bangladesh are the fast fashion retailer’s largest production markets, according to the company. The shares fell 0.9 percent as of 16:30 in Stockholm.
By Rafaela Lindeberg
Learn more:
What the Crisis in Bangladesh Means for Fashion’s Supply Chain
The country’s prime minister resigned and fled the country on Monday after weeks of protests roiled the world’s second-largest garment exporter.
