H&M announces Central America expansion

H&M is growing its global presence. The Swedish fashion brand, which is already available in 74 store markets and 51 online markets around the world, will launch in Central America later this year.

Through a new franchise agreement with Hola Moda S.A., a new H&M store will open in Panama at the end of 2020. Hola Moda S.A. is a privately owned company that operates international fashion brands across the Central America region. A press statement from the H&M Group said that Hola Moda has "extensive retail experience and market knowhow."

“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," commented Hola Moda president Mehdi Beneddine. "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."