H & M is considering exchanging operations currency

Thursday, 21 June 2012
Hennes & Mauritz is considering to start making purchases of yuan to prevent the effects of a further strengthening of the dollar heaping pressure on its cost.

“Many of our rivals have already begun using the yuan, “said company director Nils Vinge, according to wsj.com, reports Swedish media outlets.

He added that this will be easier when China will abandon the hard grip on its currency.
H & M buys about 80 percent of apparel in China.
By Scancomark.se Team

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