H&M will open stores and launch online in Brazil in 2025 as part of its Latin America expansion.
The fashion retailer revealed it would initially enter major cities in southeast Brazil with a view to increase its presence across the country over time.
H&M’s first Latin American store opened in Mexico in 2012, and has shops in Chile, Colombia, Costa Rica, Ecudar, Guatemala, Panama, Peru and Uruguay.
Group chief executive Helena Helmersson said: “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.
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“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.”
Last month, the fashion group – which owns Arket, Cos, H&M, Monki, & Other Stories and Weekday – reported stronger-than-expected profits thanks to positive effects from its cost cutting program.
Operating profits in its second quarter dipped 5% from £365m to £348m, coming ahead of analyst forecasts.
Looking ahead, Helmersson said: “The conditions for increased growth as well as profitability continue to develop in a favourable direction.”
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