H&M will open its first store in Brazil within Iguatemi Faria Lima — occupying a space of 1,300 square meters in one of the country’s most premium shopping malls.
Ciro Neto, the commercial vice president of Iguatemi, told Brazil Journal that the store is expected to open in the second half of 2025, after the necessary renovations. Discussions with the Swedish retailer began over a year ago.
The shopping mall — which operates with almost zero vacancy — had to relocate other operations, moving stores to make room for H&M.
“The arrival of H&M reinforces our positioning among the main international brands in Brazil,” said Ciro, noting that in recent years Iguatemi attracted the first stores in Brazil from Loewe and Le Labo, as well as the first flagships from Balenciaga and Tiffany’s.
Despite Iguatemi Faria Lima’s focus on luxury (a profile distant from H&M, which is a more mass-market brand), Ciro said that there is “an important mix complementarity aspect, and H&M will add to that.”
At Iguatemi Faria Lima, H&M will compete with other major retailers such as C&A and Zara.
H&M — with more than 4,400 stores in 78 countries — has been operating in South America since 2012, with 51 stores in Chile, Peru, and Uruguay.
The arrival of the chain in Brazil will heat up an already extremely competitive market, dominated by giants like Lojas Renner, C&A, and Riachuelo, and recently facing brutal competition from Asian ecommerce players — who have managed to capture a significant market share in recent years with their low prices (and taxes as well).
Founded in 1947, H&M has been studying its entry into Brazil for years, but has always faced logistical, tax, and competitive complexities in the country — which have led other brands astray.
For example, Forever 21 closed all of its 15 stores in Brazil in 2022 — eight years after entering the country. In the past, other international brands have also had to close their retail operations, including Versace, Vans, and Timberland.
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Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
