TORONTO--(BUSINESS WIRE)--Joe Fresh, a division of Loblaw Companies Limited (TSX:L), today announced that it will open locations in Mexico and five Central American countries through two new and separate international partnership agreements. Locations will begin opening in Spring 2015. Over the next five years, the agreements anticipate as many as 84 new Joe Fresh operations, including standalone stores and department store shops-in-shops.
In Mexico, Joe Fresh has partnered with El Palacio de Hierro, a leading retailer that owns and operates 13 department stores, with an additional two slated to open this year.
In Central America, Joe Fresh has partnered with Euromoda, a unit of Eurocomer Group, in an agreement that covers Honduras, Costa Rica, Guatemala, Nicaragua and El Salvador.
The agreements with Joe Fresh encompass women’s, men’s and children’s lines. Both El Palacio de Hierro and Euromoda expect to launch Joe Fresh in their respective markets in the spring of 2015.
“We look forward to embarking upon these new partnerships, and believe that the spirited design and compelling value Joe Fresh is known for will resonate strongly with consumers in these new international markets,” said Joe Mimran of Joseph Mimran & Associates, Creative Director, Joe Fresh.
“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,” said Mario Grauso, President, Joe Fresh.
El Palacio de Hierro will open a minimum of five freestanding Joe Fresh stores in 2015, as well as four shops-in-shop for women’s wear and five for children’s wear. Within the next seven years, the retailer is slated to open 25 freestanding stores, as well as 14 women’s shops-in-shop, 14 men’s shops-in-shop and 14 children’s shops-in-shop in El Palacio de Hierro department stores.
“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,” said José María Blanco Alonso, CEO of El Palacio de Hierro.
In its five Central American markets, Euromoda will open a minimum of three freestanding stores in 2015 and a total of 17 stores by 2019.
“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,” said Justin Willingham, President of Euromoda.
The expansion into Mexico and Central America continues the steady international growth of Joe Fresh in 2014. In February, Joe Fresh announced agreements with Origin & Co. Ltd. for South Korea, with Fawaz A. Alhokair & Co. for 16 markets in the Middle East, North Africa and Europe, and with Retail Arabia International for five markets in the Middle East.
To date this year, Origin & Co. Ltd. has opened six Joe Fresh stores in South Korea, including freestanding stores in the Myeongdong area and Times Square Mall in Seoul, a shop-in-shop in the AK Plaza shopping center in Suwon, and shops-in-shop in Hyundai department stores in the Joondong and Daegu areas of Seoul.
Fawaz A. Alhokair & Co. has opened 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 Dhahran.
About Joe Fresh
Founded in 2006 as a division of Loblaw Companies Limited (TSX:L), Joe Fresh is one of Canada’s leading sources for modern style and accessible design, offering comprehensive lifestyle collections for men, women and children. Joe Fresh delivers quality and compelling value in categories spanning apparel, accessories, footwear and Joe Fresh Beauty® cosmetics. The brand’s design vision is driven by Joe Mimran of Joseph Mimran & Associates, Creative Director of Joe Fresh, Home and Entertainment for Loblaw Companies Limited. In Canada, Joe Fresh products are available online and in more than 340 retail locations, including 16 freestanding and studio stores. In the United States, Joe Fresh operates six freestanding stores in New York, including a flagship in the landmark 510 Fifth Avenue building, and is also available in over 650 J.C. Penney stores. In 2014, Joe Fresh opened its first international stores in South Korea and Saudi Arabia with local partners. For more information, please visit joefresh.com.
About El Palacio de Hierro
Established in 1888, El Palacio de Hierro of Grupo BAL, is paramount in Mexico when talking about style, luxury and trends. Exclusive distributor of brands like Burberry, CH Carolina Herrera, Tiffany, H.Stern, Christian Dior, Loewe—among others—and with freestanding boutiques of brands like Mango, Springfield, Bebe, Aldo, Women's Secret, Juicy Couture and Michael Kors, El Palacio de Hierro has created a true lifestyle, one that is “Totally Palacio.” The company has 13 full format department stores: 8 located in the Mexico City Metropolitan Area, Puebla, Monterrey, Guadalajara, Villahermosa and now Querétaro. From the main chain come Casa Palacio devoted to home and interior design and the smaller, curated department store format La Boutique Palacio in Acoxpa, Acapulco and Cancun. El Palacio de Hierro operates 120 freestanding specialty stores, under the Michael Kors, Tory Burch, Mango and Aldo brands. El Palacio de Hierro is a subsidiary of Grupo BAL, a diversified conglomerate with interests in finance, insurance, music, health, agribusiness and mining.
About Euromoda and its Affiliates
Euromoda and its affiliate companies have been in business since 1973 in the areas of furniture and apparel, both in manufacturing and retail. Based in Tegucigalpa, Honduras, Euromoda currently operates in the 4 countries of Honduras, Costa Rica, El Salvador and Nicaragua. The company’s first franchise experience dates back to 1988 in Honduras. Currently the group is focused on partnering with successful brands that can expand throughout the Central America region.