Over the past five years, China’s foreign investment in Catalonia has reached 1.164 billion euros, creating 2,100 new job opportunities. Currently, Catalonia is home to 114 subsidiary companies of Chinese enterprises.

Reda is known for producing entirely “Made in Italy” and sustainable Merino wool fabrics.

According to a statement released by H&M, the new company is called Looper Textile, with H&M and Remondis each owning a 50% stake.