As of 2022, the H&M Group is operating a total of 144 stores in ten Latin American countries. In Mexico, there are 60 H&M stores, making it the largest market for the Swedish apparel comany in Latin America. While the brand is further expanding their physical presence in Latin America, the number of H&M stores in Spain is declining.
H&M stores
In 2022, H&M operated in 79 markets and offered online sales in 58 of these markets, with online sales comprising around 30 percent of the retailer’s net total sales. In the same year, the Swedish fast fashion giant had a total of 4,465 stores worldwide. The company had experienced a continuous growth in brick-and-mortar stores over the recorded period from 2006 to 2019, where it reached its peak of 5,076 stores, up from just 1,345 in 2006. Thereafter, the number of stores owned by the company began to decline steadily.
Revenue of H&M
In 2022, H&M generated global net sales of around 223 billion Swedish kronor, or over 21 billion U.S. dollars. The Swedish fast fashion company, known for its low prices and ability to quickly churn out new styles, has been riding on a clear overall growth trend, with sales more than doubling since 2006. It came in fifth place in sales generated by leading apparel retailing companies in 2022, behind the likes of Inditex Group, the Spanish retailing group that owns brands including Zara and Pull&Bear, as well as TJX Cos, which owns budget retailer T.J. Maxx.
