Japanese apparel retailer Honeys Holdings Co to build its third factory in Myanmar

Honeys Holdings Co, the renowned apparel retailer from Japan, is all set to start the construction of its third clothing factory in Myanmar.

That’s a rare global investment for the country that has been struggling amidst political and economic turmoil.

Notably, the clothing retailer sources nearly 44 per cent of its goods from its subsidiary and partners in Myanmar.

And this share is, reportedly, expected to cross 50 per cent as and when the new clothing factory gets completed.

Here it is important to mention that many firms – across the globe – have pulled out of Myanmar ever since the country’s Government was thrown out by the military early last year.

Honeys Holdings’ move has now garnered lot of attention. The retailer, reportedly, has full ownership and control of its subsidiary in Myanmar making it independent of the military regime.

The Iwaki-based planning, manufacturing and sales company centres on young casual womenswear.