H&M Opening in Panama

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Swedish multinational clothing-retail company Hennes & Mauritz is slated to open in Panama at the end of 2020.

Known more widely as H&M, the company currently has 51 online markets and stores in 74 countries, including Puerto Rico, Mexico, Chile, Colombia, Peru and Uruguay in Latin America. This, however, will be H&M’s first store in Central America and part of its strategy to access growing markets.

In Panama, it will operate through a franchise agreement with local company Hola Moda SA, incorporated in Panama City in October 2019 by Phoenix Group and Dorben Group, which manage a number of other international fashion brands in the region.

Although as yet unconfirmed, word on the street is that the store will open in the recently shuttered Sanborns in Multiplaza Mall.