Swedish fast fashion retailer H&M has opened its first physical store in Brazil and launched online operations in the country, where it already manufactures some items locally, including shoes and beachwear. This was announced by the CEO.

The short-term goal is to open four stores in the state of São Paulo in the coming months, said Joaquim Pereira, manager of H&M Brazil.

"We want to have prices that are accessible to everyone," said Magnus Olsson, H&M's regional manager for the Southern Hemisphere.

The company plans to increase local production while maintaining global standards, Olsson said. For now, H&M manufactures shoes, swimwear, and jeans in Brazil and imports other products from various markets, including India, Bangladesh, and Portugal.

Managers said that H&M will eventually open stores in other Brazilian states, without giving further details.

The chain also has a 25,000-square-meter distribution center in the southeastern state of Minas Gerais, which can be expanded to about 40,000 square meters. | BGNES