(News Bulletin 247) – H&M announced on Monday its intention to enter the Brazilian market by 2025, the clothing group saying it sees “considerable” development potential in this country of 210 million inhabitants.
In order to carry out its project, the ready-to-wear giant intends to join forces with Dorben Group, a specialist in high-end distribution with which it already operates stores in Panama, Costa Rica and Guatemala.
“We have benefited from good development in Latin America and we see a lot of potential in Brazil,” explained Helena Helmersson, managing director of H&M Group.
The company opened its first Latin American store in Mexico in 2012, a move that was followed by expansion into Peru, Uruguay, Chile, Colombia, Ecuador as well as Guatemala, Panama and Mexico. Costa Rica.
H&M plans to open its first Brazilian store in 2025, as well as launch e-commerce activities, before increasing its national footprint thereafter, mainly in major cities in the southeast of the country.
Listed on the Stockholm Stock Exchange, the title of the Swedish retailer changed little (-0.2%) Monday morning following this announcement.
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