SAO PAULO: Swedish fast-fashion retailer H&M opened its first physical store in Brazil on Saturday and launched online operations in the country.
The company is already producing some items locally, including footwear and beachwear, according to an executive statement.
Joaquim Pereira, H&M Brazil’s country manager, revealed the short-term goal involves opening four stores in São Paulo state over the coming months.
“This courtship with Brazil has been going on for a long time,“ he added, noting that the move took years of planning.
H&M aims to compete locally but not necessarily against Chinese brands such as Shein, which often have below-average prices.
“In Brazil there are many national brands that are very good, really very good,“ said Pereira.
He emphasised the market’s competitiveness regardless of whether companies are Chinese or local.
The company did not disclose its total investment in Brazil.
The first Brazilian store, located in an upscale São Paulo shopping mall, focuses on women’s fashion.
A second store opening soon will offer a wider assortment including women’s, men’s and children’s clothing, accessories and shoes.
“We want to have pricing that is inclusive,“ said Magnus Olsson, H&M’s regional manager for the Southern Hemisphere.
The company plans to increase local production while maintaining global standards, according to Olsson.
H&M is currently producing shoes, beachwear and jeans in Brazil while importing other products from markets including India, Bangladesh and Portugal.
Executives confirmed H&M will eventually open stores in other Brazilian states without providing further details.
The chain operates a 25,000-square-meter distribution center in Minas Gerais that can expand to about 40,000 square meters. – Reuters
