The TJX Companies and Grupo Axo to form a joint venture.

The TJX Companies, an off-price apparel and home fashions retailer in the US and worldwide, and Grupo Axo to form a joint venture, an operator of global brands in Mexico and South America that includes both full- and off-price formats. Financial terms were not disclosed. “As the world’s retail leader in off-price apparel and home fashions, we are excited about the opportunity to expand to Mexico through our partnership with Axo, and grow and enhance that country’s leading off-price retailer. With TJX’s decades of experience as an international, off-price retailer, and Axo’s established base of over 200 off-price stores and 30 years of operating experience in Mexico, we see excellent potential to grow in another region and deliver our value proposition to a growing population of fashion- and value-conscious consumers in Mexico," Ernie Herrman, The TJX Companies Chief Executive Officer and President.