Swedish clothing company Hennes & Mauritz (H&M) has revealed plans to enter the Brazilian market in 2025.

The company will launch its stores and online in the country.

H&M will initially enter major cities in south-east Brazil and plans to expand its presence across the country over time.

H&M Group CEO Helena Helmersson said: “We are thrilled to announce that we are opening our first store and online in Brazil in 2025. We have had good development in Latin America and see great potential in Brazil.

“This is a very exciting step, and we look forward to bringing H&M’s concept of fashion, quality and sustainability at the best price to many customers in the country.”

Brazil, which has a population of more than 210 million, offers strong potential for expansion, according to H&M.

The company is establishing a partnership with Dorben Group to facilitate the expansion.

Dorben Group president Mehdi Beneddine said: “It is an honour and a privilege for us to enter into this partnership with H&M in Brazil, thereby strengthening our existing relationship with a leader in the fashion industry.

“This collaboration will enable both companies to leverage their unique strengths, resources and expertise to unlock the incredible potential of the Brazilian market.”

H&M entered the Latin American market in 2012 with its first store in Mexico.

Currently, the company has stores in Chile, Colombia, Costa Rica, Ecuador, Guatemala, Panama, Peru and Uruguay.

Last month, H&M reported net sales growth of 9% to SKr112.48bn ($10.34bn) in the first half of fiscal year 2023.