Madrid, December 09, 2024. COFIDES and Grupo Empresarial Mirto will once again collaborate to strengthen the company's presence in Mexico. To this end, COFIDES has granted a loan of 600,000 euros from the Fund for SME Foreign Investment Operations (FONPYME) and COFIDES' own resources.
Using the financing provided by COFIDES, Grupo Empresarial Mirto will make additional investments in the stock of its products in the Palacio del Hierro shopping centres. The company will replicate the successful model it follows in Spain, based on flexible planning and distribution to ensure stock at the point of sale in an efficient way.
This is the second operation that COFIDES and MIRTO worked on together, further to supporting the company last year for the fitting out of shop-in-shop spaces in El Palacio del Hierro shopping centres.
COFIDES' CIO, Miguel Ángel Ladero, said that "the Mirto Group is a leading family-owned company in the Spanish textile sector and is known for its commitment to quality. We are pleased to contribute to its international expansion and boost its business model". He also pointed out that "Mexico is a country where great interest has been generated in Spanish brands and which affords many opportunities for Spanish companies".
The Grupo Empresarial Mirto CEO, Ricardo Fraguas Gadea, stated that "we set great store by the additional support from COFIDES, which is facilitating the development and financing of our internationalisation strategy, especially on the Mexican market".
ABOUT MIRTO GROUP
Founded in 1956, the MIRTO Group brings together a series of leading companies in its sector, which stand out for the design and impeccable quality of their garments. Fabrics, experience, artisan know-how and the best technology are combined to design and manufacture, at its own industrial facilities, its famous shirts, as well as other fashionable garments for men and women. Boasting over 65 years’ experience, MIRTO is the main brand of a family-owned Group based in Madrid, which integrates under the Mirto Corporation other companies and brands in the fashion and design sector. MIRTO markets and distributes its products in the best multi-brand shops, prestigious boutiques, international chains and in its own corners or shop-in-shop at department stores such as El Corte Inglés (ES) or El Palacio de Hierro (MX). The Fashion Group was awarded, at its first edition, with the "National Award for SMEs in the Fashion Sector Industry", granted by the Spanish Ministry of Energy, Industry and Tourism.
ABOUT COFIDES
COFIDES is a state-owned trading company that manages state funds, as well as its own resources and those of third-party institutions. COFIDES's mission is to support the internationalization of the Spanish economy, attract foreign investment into strategic sectors in Spain, promote the impact economy, and contribute to global economic development. COFIDES is also instrumental in strengthening the solvency of Spanish companies, particularly in response to challenges such as the COVID-19 pandemic. COFIDES’s shareholders include the Spanish State, Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF-Development Bank of Latin America.
