The Swedish clothing retailer H&M will open 12 new stores in Mexico this year, bringing the total to 26.
Six of the new stores will be in markets in which the chain does not currently have a presence, said country manager John Lackner in an interview with Forbes México. Those markets are Mérida, Pachuca, Cuernavaca, Saltillo, Chiapas and Cancún.
The others will open in Mexico City, State of México, Querétaro, Jalisco and Monterrey.
Lackner said the performance of its Mexico stores has been among the best worldwide, with Mexican consumers welcoming the brand and fueling the company’s rapid expansion.
He said the devalued peso has had an impact and prices have had to be adjusted but only minimally.
Worldwide, the company is the biggest consumer of certified organic cotton, Forbes reported, using it in 21% of its garments. H&M’s goal is to increase that percentage to 100 by 2020.
H&M opened its first store in Mexico in 2012.
Source: Forbes (sp)