H & M is progressing in Mexico. The Swedish fashion distribution company increases the blindness of a new store, located in the Plaza Cumbres shopping center, in the city of Monterrey. This new opening is part of the company's expansion plan in the Aztec country, which aims to close the year with 48 stores on the Mexican market.
The opening of Plaza Cumbres joins the new offices that the company has launched in Torreón and Mexico City, with 43 sales points in the Aztec country. In parallel with that the company plans to launch its e-commerce platform in Mexico in 2019.
Throughout Latin America, H & M has a total of sixty stores, which are present in Mexico, Peru, Puerto Rico, Chile and Colombia. During the first six months of the year, the group's sales in the region amounted to 3.144 million Swedish kroner ($ 349 million), an increase of 32.3% over the same period last year.
In contrast to the rest of the world, H & M dropped its net profit in the first half by 28%. Sales decreased by 0.2% to 98.165 million crowns (9.475 million euros). The company currently has a network of stores consisting of more than 4,800 branches. The group's plans for this year are to open 390 store points and close another 150, creating a total of 240 openings in 2018.