What scared H&M off from opening in Brazil?

H&M logo in shop front

Brazil is notorious for its red tape process for new business operations. The country ranked 126th out of 183 countries – lower than Burkina Faso and Nigeria –  in the World Bank’s latest annual global report which evaluates the ease of starting a business, dealing with construction permits, registering property, and paying taxes. In late 2013, H&M announced that it would open its first Brazilian store in 2014.  At that time , the brand said it would reach 40 stores in the country on a medium term, opening 5 stores within…

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