H&M Group Expands to Central America

H&M Group has signed a franchise agreement with Hola Moda S.A. in Central America. The first H&M store is set to open in Panama at the end of 2020.

“Central America holds great potential and we are looking forward to opening our first H&M store in Panama at the end of 2020”, says Karl-Johan Persson, CEO H & M Hennes & Mauritz AB.

Hola Moda S.A. is a privately owned company founded by Phoenix Group and Dorben Group, which with their extensive retail experience and market knowhow operate international fashion brands in 15 countries across the region.

“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”, says Mehdi Beneddine, president of Hola Moda.

For additional information, please contact: 
Katarina Kempe, Head of Media Relations H&M Group
groupmediarelations@hm.com
+46 (0)8 796 53 00

H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, & Other Stories, H&M Home and ARKET as well as Afound. The H&M group has 51 online markets and more than 5,000 stores in 74 markets, including franchise markets. In 2019, net sales were SEK 232 billion. For further information, visit hmgroup.com.