Key points
- Retailer H&M to expand to Brazil in partnership with Dorben Group
- Shares up 59% year-to-date after 2022 slump
Sweden’s H&M said on Monday that it intended to launch stores and online trade in Brazil in 2025.
To support the expansion there, H&M is teaming up with Dorben Group, which has retail operations in 10 countries across Central and South America.
“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 fashion retailer said in a statement, cited by Reuters.
The Swedish company set up its first store in Latin America in Mexico in 2012. Alongside Mexico, H&M already has presence in countries such as Peru, Uruguay, Panama, Chile, Colombia, Ecuador, Costa Rica and Guatemala.
The shares of H&M Hennes & Mauritz AB were last losing 0.66% (SEK 1.2) to trade at SEK 178.4 in Stockholm on Monday, as they extended the losses from the previous two market sessions.
The company’s total market cap now stands at SEK 291.544 billion.
The shares of H&M Hennes & Mauritz AB have risen 59.00% so far this year, following a 37.00% loss in 2022.
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