The Swedish clothing group Hennes & Mauritz AB (H&M) is planning another important expansion step. On Monday, the parent company of brands such as H&M, Cos, Monki, Weekday, & Other Stories and Arket announced that it plans to open its first stores and its own online shop in Brazil in 2025.
When entering the Brazilian market, the group relies on a partnership with the Panama-based retail group Dorben Group. According to H&M, the first step is to open stores in major cities in south-eastern Brazil. After that, there is the prospect of expanding the presence to the whole country, the clothing supplier said.
The group opened its first stores in Latin America in Mexico in 2012. It is now also represented in Peru, Uruguay, Chile, Colombia, Ecuador, Guatemala, Panama and Costa Rica. With a population of 210 million and a “high regard for fashion,” Brazil now offers “significant potential” for further expansion, the company said.