H&M to Enter Brazil in 2025
PARIS — Swedish retailer H&M is saying “olá” to Brazil.
The fast-fashion giant will enter the Brazilian market with both physical and online sales in 2025, the company said Monday.
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“We are thrilled to announce that we are opening our first store and online in Brazil in 2025. We’ve had good development in Latin America and see great potential in Brazil. This is a very exciting step, and we look forward to bringing H&M’s concept of fashion, quality and sustainability at the best price to many customers in the country,” said H&M Group chief executive officer Helena Helmersson.
The group is expanding its partnership with retail distribution, operations and real estate specialist Dorben Group, which operates the existing H&M stores in Costa Rica, Guatemala and Panama, where it is headquartered.
Dorben Group has extensive experience with luxury brands in Brazil, where it is the exclusive distributor of Michael Kors and Tory Burch, is the exclusive franchisee for Jimmy Choo, and operates the Tod’s boutiques in the country.
“It is an honor and a privilege for us to enter into this partnership with H&M in Brazil, thereby strengthening our existing relationship with a leader in the fashion industry. This collaboration will enable both companies to leverage their unique strengths, resources and expertise to unlock the incredible potential of the Brazilian market,” said Dorben Group president Mehdi Beneddine.
H&M will make its first foray into the country “by initially entering major cities in southeast Brazil, with a view to further increase its presence across the country over time,” the company said in a statement. “With a population of over 210 million in Brazil and a strong appreciation for fashion, there is considerable potential for expansion in the market.” The major metropolises of Rio de Janeiro and Sao Paulo both fall within that region.
H&M has made inroads in Latin America since opening its first store in Mexico in 2012. It has expanded to Peru, Uruguay, Chile, Colombia and Ecuador as well as Costa Rica, Guatemala and Panama.
The company is looking to establish itself in new markets since it faltered in China. The company has closed more than 300 stores in the last year in “mature markets,” and Helmersson has said the company would concentrate on expanding in newer countries moving forward.
Outside of its core H&M brand, the group operates Arket, Cos, Monki, & Other Stories and Weekday.
H&M, Cos, Monki, & Other Stories and Weekday all closed stores in the first half of the year, with H&M shuttering 54 locations. Arket entered Estonia, while H&M launched online in Vietnam.
More new markets are expected in the second half of the year, with Cos expected to launch in Mexico, while Monki will open in Hong Kong. Switzerland will have two new H&M Group brands, with & Other Stories and Arket entering the country. Arket will also expand Eastern Europe to Latvia before the end of the year.
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