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Swedish fashion giant Hennes and Mauritz (H&M) opening in Panama

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Swedish fashion giant opening in Panama


Posted 18/01/2020

The Swedish chain of clothing stores H&M announced that this year it will land in Central America with the opening of its first store in Panama.

"Central America has great potential and we expect the opening of our first store in Panama towards the end of 2020," said Karl-Johan Persson, executive president or CEO of H&M Hennes & Mauritz, quoted in a statement released by the company, which competes worldwide with the Spanish Inditex , owner of the stores Zara .

The multinational said it has reached a franchise agreement with Hola Moda, SA, a company founded by the Phoenix Group and Dorben Group, which operates international fashion brands in 15 countries in the region.

Although the statement does not mention the location, it has been known that it could be in the old Sanborns store in Multiplaza.

The H&M Group, which has eight different brands, has 5,000 stores in 74 markets. Sales of the fashion giant increased 11% in 2019, to total 232,764 million Swedish kronor, about $24,450 million at the current exchange rate.



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Clothing: New Investment in Panama Announced

The Swedish chain of stores Hennes and Mauritz announced that among its expansion plans is the opening of a sales point in Panama, which would be the first in Central America.

Wednesday, January 22, 2020

According to an official statement that was released in mid-January, the plan of the company Hennes and Mauritz (H&M) is that its first store in the region will be open to the public by the end of the year.

You may be interested in "Shoes: Top Players in Panama"

Elcapitalfinanciero.com reports that "... The Swedish firm has signed a franchise agreement in Central America with Hola Moda, a company founded by the Phoenix and Dorben groups that operates international fashion brands in 15 countries in that region."

Mehdi Beneddine, president of Hola Moda, said that "... We are honored and excited about the opportunity to bring H&M to Central America, providing the communities we serve with unparalleled fashion and quality at the best price."

In Latin America, H&M has a presence in countries such as Chile, Peru, Colombia, Uruguay, Argentina and Brazil.


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