Swedish fast fashion chain H&M is to enter the South American market with a store in Chile as the retailer said it sees “great potential” for further expansion in this region.
The retailer will open a flagship store in the first half of 2013 in the shopping centre Costanera Centre in Santiago de Chile.
Karl-Johan Persson, chief executive officer of H&M, said: “We are very excited to announce the opening of the first H&M store in South America, in Santiago de Chile, Chile. It is our first step into the Southern hemisphere, and we see great potential for further expansion in this fashion conscious region. We look forward to bringing fashion and quality at the best price to the Chilean customers.”
Om July 31 H&M had a total of 2,603 stores. Last week the retailer announced it would open its largest store in the world on Fifth Avenue in Manhattan. The six-level, 57,000-square-foot site will open sometime next year.