H&M to enter Brazil in 2025 in partnership with Dorben Group
Nicola Mira
A major new country will soon be included in Swedish giant H&M
“Brazil has a population of over 210 million and a strong interest in fashion. The potential for expansion in this market is significant,” said H&M, which currently operates 4,400 stores worldwide (300 fewer than a year ago). Helena Helmersson, CEO of H&M, described this as “a very exciting step,” after the brand “has enjoyed fine growth in Latin America.”
In order to penetrate the Brazilian market, H&M is once again joining forces with Dorben Group, its partner in Central America. Dorben Group was founded in 2003 and operates three H&M branches in Panama, Costa Rica and Guatemala according to its website, which also indicates that the group is managing stores by CoachValentino
H&M entered Latin America in 2012, opening its first store in Mexico, and later reached also Peru, Uruguay, Chile, Colombia, Ecuador, Guatemala, Panama and Costa Rica.
In H1 2023, the group’s revenue increased by 9% to SEK112.5 billion (€9.7 billion), equivalent to a 1% growth in local currencies. In the Americas region (both South and North America), revenue grew by 12% over the same period, and by 2% in local currencies, reaching SEK26.3 billion (€2.2 billion).
