The chain of fast fashion H&M approaches the Argentine market. The Swedish firm is in negotiations to install its first store in the country in a Buenos Aires shopping center.
Sources from the IRSA group, the owner of the main shopping centers in Argentina, confirmed the conversations to LA NACION. “We don’t have anything signed and closed yet, but there are advanced conversations,” they explained. “At the end of the year there were people from H&M who met with our team and toured the shopping malls,” they added. There is speculation in the market that Alto Palermo would be the first location.
The arrival of H&M could happen directly, unlike other international brands that landed in the country via representatives or with a local partner. The direct operation model is the one that H&M is already implementing in other countries in the region such as Chile and Uruguay.
Founded in 1947, the company currently has nearly 4000 stores distributed in more than 79 countries. Its sales exceed US$22 billion annually.
Based in Stockholm and founded by Erling Persson, the Swedish company markets clothing, accessories, footwear, cosmetics and home products, with a proposal based on combining design with affordable prices and a high rotation of the collections.
The entry of H&M is added to the arrival of large international chains that look again at Argentina as an attractive market. Driven by commercial opening, they began to outline a new map of the fashion sector.
This week, the Danish group Bestseller announced its landing in Argentina with a plan to open 40 stores and an investment of US$50 million in five years, in alliance with Grupo One -the same firm that brought Decathlon and is preparing the arrival of Kiabi-. According to them, the operation will begin this year with three of the group’s main brands: Jack & Jones, Only and Balmohk.
In parallel, Spanish fashion label Mango anticipated its return to Argentina after more than 20 years outside the market through a franchise agreement with the Argentine group Grimoldi. The firm plans to open five stores in the next five years – the first is scheduled for September in the Alto Palermo shopping center -, along with the launch of an e-commerce channel.
For its part, the British brand Superdry chose Argentina as a base for its global reconversion. After a restructuring process, the company confirmed an estimated investment between US$40 and US$50 million during the first four years, in alliance with the Argentine Tango Fabric. The bet includes a flagship store in Buenos Aires in August, which will function as regional headquarters and decision center for all of South America.
In turn, at the end of last year, the Brazilian brand Farm Rio landed in Argentina with its first location in Buenos Aires. The company, known for its vibrant prints and focus on sustainable fashion, arrived by the Markova Group -led by Mariano Lobera- who also took over as regional director of the brand. The plan foresees the opening of between eight and ten additional stores in Argentina and Uruguay.
