French retailer Kiabi bets $20m on Argentina's trade reforms
Kiabi is investing $20 million to open up to 20 stores in Argentina, signalling growing foreign retailer confidence in President Javier Milei's trade liberalisation agenda despite sluggish domestic consumption.
French clothing retailer Kiabi will open its first Argentine store in Buenos Aires next month, kicking off a $20 million, five-year expansion plan to build a network of up to 20 outlets. The investment represents a notable vote of confidence in the market reforms of President Javier Milei, who has dismantled trade barriers to attract foreign capital.
The 1,500-square-metre flagship is scheduled to open on August 11 at Florida 313, followed later this year by a second location in the Portal Rosario shopping centre. The chain aims to establish 10 stores within three years before expanding further, supported by a planned e-commerce platform to facilitate an omnichannel rollout.
Kiabi’s entry is being orchestrated by Grupo One, a holding company led by businessman Manuel Antelo that is rapidly establishing itself as the primary conduit for international brands entering Argentina. The group already brought Decathlon to the country this year and is preparing to introduce Danish label Bestseller. This partnership demonstrates a scalable franchise model that mitigates operational risks for foreign retailers.
The arrival adds Kiabi to a roster of global names—including H&M, Mango, Superdry and Miniso—that have recently entered or returned to Argentina. While the broader retail sector continues to battle weak domestic demand, Milei's pro-market policies have evidently lowered the risk profile for foreign operators. These companies appear willing to absorb short-term consumer weakness in exchange for long-term market positioning.
With 648 stores across 37 countries and annual revenue of roughly €2.5 billion, Kiabi specialises in affordable family clothing and home goods. "The Argentine market has a strong fashion culture and consumers who are highly engaged, informed and demanding," regional brand manager Elisa Tabarez said. "We believe our family-focused proposition has significant growth potential in the country."
The initial expansion phase is projected to generate 300 direct jobs and 100 indirect roles. For Kiabi, the move marks its second South American market following a debut in Uruguay in 2023. For the Argentine economy, it represents a tangible return on the government's aggressive deregulation and trade liberalisation drive.
