The Mexican department store group will close its fiscal year 2019 with 34 new stores of brands like Desigual, Aldo, Ugg, Mango or The North Face that will open in different locations across the country.
El Palacio de Hierro boosts its business. The Mexican department store group speeds its retail network with 20 openings in what is left of the year.
Specifically, El Palacio de Hierro will expand brands like Mango, Ugg, Desigual or The North Face in the Mexican market, the company stated to Mds. Plans of the group include adding 22 new stores in the next couple of months.
This said, El Palacio de Hierro will close its fiscal year 2019 with 34 stores in the country, adding a total of 155 establishments, which represents a growth of 20% compared to last year.
El Palacio de Hierro manages 18 apparel, cosmetics, and technology stores in its mono-brand business
The company started its store expansion last July with the opening of a Justice store in the Mexican location of Metepec and an Aldo store in the mall Punto Valle, besides adding a Samsung store in the complex Lindavista.
Recently, El Palacio de Hierro opened the first point of sale of Catamaran, its private label. In the next couple of weeks, Aldo will add three new stores in the Mexican market, as well as the Australian Ugg, that will arrive next to Desigual to the Mexican location of Metepec.
Spanish retailer Mango prepares the opening of five new stores with El Palacio de Hierro in December. The stand-alone stores of the El Palacio de Hierro represent 8% of the total business of the group. In this business line, the Mexican company works with brands like Aldo, Benefit, Bobbi Brown, Call it Spring, Catamaran, Chester&Peck, Desigual, Justice, Kiehl’s, Mac Cosmetics, Mango, Michael Kors, Pandora, Samsung, The North Face, Tory Burch, Ugg and Women’s Secret.
El Palacio de Hierro closed its first half with a growth of 6.3%, up to 820.2 million dollars, while its benefit rose 2.4% in the first half, up to 47.6 million dollars.