(Adds quote from H&M)
COPENHAGEN, July 17 (Reuters) – Fashion retailer H&M will launch stores and online trade in Brazil in 2025, the company said on Monday.
H&M opened its first store in Latin America 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 Dorben Group, which runs retail operations across 10 countries across Central and South America, the Swedish fashion giant said.
The launch in Brazil comes as the company is pushing to accelerate its expansion in the North and South America region, focusing in particular on Latin America, it said. (Reporting by Louise Breusch Rasmussen, editing by Anna Ringstrom and Jason Neely)