H&M to expand to Central America
H&M is to open its first store in Central America after signing a franchise agreement with Hola Moda.
The first store will launch in Panama by the end of 2020.
A privately owned company founded by Phoenix Group and Dorben Group, Hola Moda operates international fashion brands in 15 countries across the region.
Mehdi Beneddine, president of Hola Moda, said: “We are honoured and thrilled by the opportunity to bring H&M to Central America, providing the communities we serve with unmatched fashion and quality at the best price. This alliance is especially important for us, as it gives our team the opportunity to work together with H&M in promoting sustainability in our industry and region”
Karl-Johan Persson, H&M chief executive, added: “Central America holds great potential and we are looking forward to opening our first H&M store in Panama.”
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