Both companies have been in joint venture since 2014 in the textile industry. In the meantime, a Chilean trader signed an alliance with Swedish to open his first store in Santiago in 2020.
The new company was created abroad and could have incidents in Chile: H & M and Ikea, dedicated to fast-fashions and home decoration, have expanded a joint venture called TreeToTectile – which has been operating since 2014 by businessman Lars Stigsson – dedicated to the development of textile fibers at attractive costs.
In a statement, they announced that they also included a new partner: Stora Enso, who will support the industrialization of the TreeToTektile production process by installing a demonstration drive at one of the Nordic facilities.
In Chile, H & M is positioned as a strong competitor in the clothing segment, and recently opened a shop in Vina del Mar, along with Mall Marina Arauco. For its part, the Swedish Ikea introduced landing to Chile by the hands of the Falabella group. It is planned to open your first store in Santiago in 2020.