Swedish clothing retailer H&M to set out stores in Panama late 2020


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Swedish clothing retailer H&M to set out stores in Panama late 2020

Hennes & Mauritz AB or H&M, the Swedish multinational clothing retailer, the world’s second-largest in terms of revenues, said in a statement on Friday, the 17th of January 2020, that the Stockholm-based Swedish fashion retailer would set out its first store in Panama at the end of 2020, remarking the long-hailed Swedish fashion giant’s first footstep in to Central American markets.

Nonetheless, following reveal of its Friday’s (January 17th) statement, a spokeswoman for the Swedish fashion retailing Goliath, H&M was quoted saying that its planned store in Panama would not be accompanied by an online store at the initial phase, while the company had no solid plans of expansions in to other Central American markets, a comment widely perceived as a cautious approach from the Swedish retailer given the extent of fierce competition awaiting for it.

Aside from that, at its Friday’s (January 17th) statement, H&M had added that the Stockholm-based world’s No. 2 fashion retailer, which has online markets and stores in 74 markets across the globe including Chile, Colombia, Peru, Uruguay, Mexico and Peurto Rico in the Southern part of America, would launch its operation in Panama under a franchise agreement with a Spanish multinational clothing retailer Hola Moda SA.