In Mexico, Joe Fresh has inked a partnership with El Palacio de Hierro, a leading retailer that owns and operates 13 department stores and has two more stores slated to open by the end of this year. In Central America, the apparel company has partnered with Euromoda, a unit of Eurocomer Group, in an agreement that covers expansion in Honduras, Costa Rica, Guatemala, Nicaragua and El Salvador.
Over the next five years, the agreements will see as many as 84 new Joe Fresh operations, including standalone stores and shop-in-shops at major department stores, and both partnerships encompass Joe Fresh’s women’s, men’s and children’s lines.
Joe Fresh president Mario Grauso said, “These agreements will bring Joe Fresh to exciting new countries with outstanding local partners who understand their customers. We are thrilled to partner with El Palacio de Hierro, one of the most storied and legendary retailers in Mexico, as well as Euromoda, a dynamic player with broad expertise in specialty retail in Central America.”
El Palacio de Hierro will open at least five freestanding Joe Fresh stores in 2015, as well as four shop-in-shops for womenswear and five for childrenswear.
José Maria Blanco Alonso, El Palacio de Hierro CEO, said, “We are very excited to become Joe Fresh´s exclusive partner for the Mexican market, launching in Spring 2015. We have an aggressive growth strategy for the next three years, opening freestanding boutiques with all of the brand’s product categories within the country´s most important shopping malls and in our department stores. I truly believe that the brand´s modern design and exceptional value will resonate with the Mexican consumer.”
Euromoda will open a minimum of three standalone Central American Joe Fresh stores in 2015, and have planned for a total of 17 stores by 2019. Euromoda president Justin Willingham said, “We are very excited about partnering with Joe Fresh for the Central American countries of Guatemala, Honduras, El Salvador, Nicaragua and Costa Rica. Joe Fresh’s unique fashion and value proposal will surely resonate well with a very broad range of consumers in our five-country territory. This opportunity to develop the Joe Fresh brand is of great significance for our company and we expect that it will have positive benefits for us, Joe Fresh, and the Central American fashion customer.”
Joe Fresh has ramped up its expansion efforts in the last year. In February, the retailer formed agreements with Origin & Co. Ltd for South Korea, with Fawaz A. Alhokair & Co. for 16 markets in the Middle East, North Africa and Europe. The company also announced an agreement with Retail Arabia International for five markets in the Middle East.
To date, the partnerships have resulted in six Joe Fresh stores in South Korea and three Joe Fresh stores in Saudia Arabia, including stores in the Sahara Mall in Riyadh, the Mall of Arabia in Jeddah and the Mall of Dhahran in Dharan.