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.

 

https://www.newsroompanama.com/business/swedish-fashion-giant-opening-in-panama

[Moderator_02]

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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.
 

Source: elcapitalfinanciero.com

 

https://www.centralamericadata.com/en/article/main/Clothing_New_Investment_in_Panama_Announced

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H & M - New kid on the  block

Posted 04/09/2021

The Swedish fast fast-fashion chain  Hennes & Mauritz AB (H&M), has defied conventional thinking and opened a new store in Panama in the midst of an economic downturn brought on by the global pandemic.

 The 2,200 square-meter store opened  its doors   Saturday, September 4 at the Multiplaza shopping center  and  it has a logistics center in Panama Pacifico

Jaime Sampol, general manager of Hola Moda, the franchise that exclusively manages the H&M brand for Central America, said that after evaluating several markets in the expansion plan, they decided to bet on Panama as a leading country for its privileged geographical location, potential for economic growth and great commercial boost in the region.

Through the regional logistics center, H&M will handle all the procurement of orders and supply of clothing, footwear, and accessories that will arrive directly from its factories in China and Germany other centers.

So far the opening has created up to 90 jobs Sampol said, indicating that the expectations are to continue growing with the hiring of more personnel.

H&M is present in Panama through Hola Moda, a Panamanian company, created for the exclusive purpose of managing the H&M store franchise in Central America, constituted and operated by a group of local investors, with experience in retail sales and management of international marks

https://www.newsroompanama.com/business/h-m-new-kid-on-the-block