What: The Mexican National Association of Self-Serve and Department Stores (Antad) revealed that its associated chains opened more than 1,390 stores during 2022 and around 1.75 billion dollars were invested.

Why it is important: Investments were at a higher figure than the estimated 1.7 billion dollars. Additionally, IADS member, El Palacio de Hierro, was apart of these investments.

According to Antad, a nominal growth of 8.2% is expected for its associates throughout Mexico. The largest amount of investment will be allocated to the construction of new stores, followed by remodeling, systems and technology, training, and development of human capital.

Antad is currently made up of 92 commercial chains with more than 47,000 stores. It represents the interests of its associates, promoting the development of retail trade and its suppliers in a market economy with social responsibility.

The chains associated with Antad invested 1.75 billion dollars in 2022