Both companies have been operating a joint venture since 2014 in the textile industry. Meanwhile, the Chilean retailer has signed an alliance with the Swedes to open its first store in Santiago in 2020.
A new business was created abroad and could have an impact in Chile: H & M and Ikea, dedicated to fast fashon and home decoration, respectively, have expanded a joint venture called TreeToTextile – operating since 2014 by businessman Lars Stigsson – , dedicated to the development of textile fibers at attractive costs.
In a statement, they announced that they included a new partner: Stora Enso, who will support the industrialization of the TreeToTextile production process, installing a demonstration plant at one of its Nordic facilities.
In Chile, H & M is positioned as a strong competitor in the apparel segment and recently opened a store in Viña del Mar, along with the Marina Arauco Mall. For his part, the Swedish Ikea asks for his landing in Chile by the hand of the Falabella Group. You are scheduled to open your first store in Santiago in 2020.