Swedish multinational company Hennes & Mauritz will open its first store south of the equator in Chile for early 2013.
As the world’s second largest clothing retailer behind Inditex, H&M is thought to be keen to expand into new regions, after previously focusing its efforts on Asian and North American markets.
The new store, which will open in the Costanera Center mall in Santiago de Chile, is likely to be the first in a new round of store roll outs for the region, after H&M said in a statement on Wednesday that is sees “great potential” for further expansion in the region.
Rival Inditex will remain a key competitor for H&M in Chile, where it already operates a handful of stores.
Related Tags:h&m, expansion, fashion, clothing, apparel, south, chile, hemisphere, expand, Store in South