Retail: H&M plans to open stores in Brazil in 2025 – 07/17/2023 – Market

Fashion retail giant H&M will launch stores and online commerce in Brazil in 2025, the company said on Monday (17).

H&M opened its first Latin American store in Mexico in 2012 and is currently present in Peru, Uruguay, Chile, Colombia, Ecuador, Guatemala, Panama and Costa Rica.

“With a population of over 210 million in Brazil and a strong appreciation for fashion, there is considerable potential for expansion in the market,” H&M said in a statement.

To support its expansion in Brazil, H&M is partnering with the Dorben Group, which operates retail operations in 10 countries across Central and South America, the Swedish fashion giant said.

The launch in Brazil comes as the company seeks to accelerate its expansion in the North and South America region, with a special focus on Latin America, the company said.

In Brazil, the retail sector is experiencing a moment of increasing competition, with the arrival of other companies from abroad, including Shein, which has been challenging local names with more attractive prices.