Canadian retail comes to the region
Clothing retailer Joe Fresh, a division of Toronto-based Loblaw Companies Limited last week announced that it will open apparel stores in Mexico, as well as in five Central American countries.
Locations will begin opening in the first semester of 2015.
Over the next five years, Joe Fresh expects to have 84 operations in the region, including standalone stores and department store in-house shops.
In Mexico, Joe Fresh has partnered with El Palacio de Hierro (only in Spanish).
In Central America, Honduras-based Euromoda will represent Joe Fresh in Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua.
Euromoda is a unit of Eurocomer Group.
Founded in 2006, Joe Fresh is led by Canadian designer Joe Mimran, and sells women’s, men’s and children’s clothing, shoes and accessories in Canada, through 300 supermarkets and superstores, in addition to several standalone locations.
In the United States, Joe Fresh is in 680 J.C. Penney outlets.
A subsidiary of George Weston Limited, Loblaw Companies is the largest food retailer in Canada, with 1,000 corporate and franchise supermarkets.
Loblaw's in addition operates a private label program, which includes grocery and household items, clothing, pharmaceuticals, cellular phones and financial services.
Its stock trade on the Toronto Exchange.
As part of the agreement, El Palacio de Hierro will open at least nine Joe Fresh stores in 2015.
In Central America, Euromoda will open 17 stores by 2019.
Established in 1888, El Palacio de Hierro is a leading Mexican retailer, with 13 department stores and 120 freestanding stores, including the Michael Kors, Mango and Aldo brands.
El Palacio de Hierro is a subsidiary of Grupo BAL, a conglomerate with interests in finance, insurance, health, agribusiness and natural resources.
Based in Tegucigalpa, Euromoda currently operates franchises in Costa Rica, El Salvador, Honduras and Nicaragua, including the Aldo footwear brand.