Stockholm—H&M said today it plans to open its first store in Mexico this fall, its first step into the Latin American market.
The company plans a “full concept” flagship store in the Centro Santa Fé shopping mall in Mexico City, slated to open this fall.
“We look very much forward to opening the first H&M flagship store in Mexico,” said Karl-Johan Persson, H&M’s ceo. “It will be the perfect first step for H&M into this fashion conscious region. We are excited to be able to offer fashion and quality at the best price to our customers in Mexico City starting autumn 2012.”
H&M, which has more than 2,500 stores in 44 countries, typically expands rapidly in markets it enters. Since opening its flagship in New York City in 2000, for instance, H&M now boasts 234 stores in 30 states. And since opening in Canada in 2004, H&M has expanded to 59 locations.
In addition to Mexico, H&M plans to launch new stores in Bulgaria, Latvia, Malaysia and Thailand this year.