H&M Group has signed a franchise agreement with Hola Moda S.A. in Central America. The first H&M store is set to open in Panama at the end of 2020.
“Central America holds great potential and we are looking forward to opening our first H&M store in Panama at the end of 2020”, says Karl-Johan Persson, CEO H & M Hennes & Mauritz AB.
Hola Moda S.A. is a privately owned company founded by Phoenix Group and Dorben Group, which with their extensive retail experience and market knowhow operate international fashion brands in 15 countries across the region.
“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. 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”, says Mehdi Beneddine, president of Hola Moda.