The scene at H&M’s opening in Panama. H&M
Regardless of the challenges introduced upon by the pandemic, world fast-fashion retailers are persevering with to strengthen their foothold in new Latin American nations, together with Guatemala, Panama, and Uruguay.
H&M’s first Panama location — a 2,200-square-metre retailer — opened its doorways within the Multiplaza Mall early this month after having to postpone its 2020 launch as a result of pandemic. Latin America has turn into one of many fastest-growing markets for the Swedish retailer, which can also be current in Mexico, Chile, Colombia, Peru, Puerto Rico and Uruguay.
However H&M’s Spanish rivals are additionally trying to increase their footprint within the continent. Mango has its sights set on Uruguay — the primary of three shops on account of open there’ll debut in November at Montevideo Procuring, a mall within the nation’s capital. In the meantime, Bimba y Lola entered Guatemala in July, lower than a month after its first opening in Peru.
Additionally spreading its attain throughout the area is sports activities large Decathlon, gearing up for its arrival in Uruguay. Its inaugural retailer, slated to open in November, can be positioned in Canelones (45 kilometres outdoors Montevideo). The model is already a fixture elsewhere in Latin America, having established itself in Brazil, Chile, Colombia and Mexico. The French firm additionally plans to open a second Uruguayan retailer in 2022.
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The pandemic has radically shifted the retail panorama, creating new challenges for incumbents H&M Group and Zara-owner Inditex.
https://www.businessoffashion.com/information/global-markets/global-fast-fashion-brands-turn-to-smaller-latin-american-markets-for-expansion | Quick Vogue Manufacturers Develop to Smaller Latin American Markets