MEXICO CITY — H&M is scouring Mexico for new locations to expand its fast-fashion franchise after opening a 50,000-square-foot store in Guadalajara earlier this month.
The Swedish fast-fashion retailer has made Mexico its Latin American launch pad and is readying the inauguration of its third Mexican store, a 27,600-square-foot unit in the up-and-coming city of Querétaro, located just over two hours north of Mexico’s capital.
The store, which will open in the new Antea mall, will feature the third point of sale for the firm’s H&M Home division, which it has been fleshing out in Mexico (in terms of Latin America) only.
Mexican press reported H&M could open its next store in San Luis Potosí in central Mexico or the Cancún beach resort. However, an H&M spokesman emphasized the next location has not been chosen.
“We are considering several locations, but key cities like Cancún, Monterrey, San Luis, Veracruz, Leon or Villahermosa are not out of the question,” the spokesman said.
He declined to provide details about H&M’s future expansion in Latin America, where a plethora of clothing retailers are scrambling to grow in the fashion-conscious region. The Antea mall, for example, has also seen Gap and Spanish fashion chain Sfera, owned by department store El Corte Inglés, set up shops.
Mexico aside, H&M also intends to expand in Chile, where its first 27,600-square-foot store was opened in March.
So far, H&M is doing well in Mexico, where it reported sales of around $12 million in the first quarter, according to a CNNExpansión article quoting chief executive officer Karl-Johan Persson. The ceo also said H&M is eyeing expansion in Brazil, Peru and Colombia.
The spokesman could not comment on the report, saying the retailer may provide more information about the expansion soon. He said H&M continues to draw a strong following on social media sites such as Twitter, where it now has 102,000 followers compared with 50,000 about a year ago.
According to the spokesman, the chain could also launch a Mexican designer-inspired clothing line in coming months.
“We don’t discard a collaboration with a Mexican designer, but right now we are mostly focused on our new openings,” he concluded.