H & M Hennes & Mauritz AB will enter Central America with the launch of its first store in Panama at the end of 2020, according to a Jan. 17 release.

The Swedish casual fashion retailer signed a franchise deal with privately owned Central American clothing store operator Hola Moda SA, which operates retail brands across 15 countries in the region.

"This alliance is especially important for us, as it gives our team the opportunity to work together with H&M in promoting sustainability in our industry and region," Hola Moda President Mehdi Beneddine said.