Home Depot Plans $250 Million Investment in Mexico for New Stores

Home Depot is committing 4,790 million pesos, roughly $250 million, to its Mexico operations this year, targeting 25 new store openings over five years and a deeper integration of Mexican suppliers into its North American supply chain.

José Antonio Rodríguez, President and General Director of Home Depot Mexico, framed the announcement in terms of the company's full arc in the country: "We arrived in Mexico in 2000 with the vision of supporting families in construction, remodeling, and home improvement. We started with just four stores and 500 employees. Today, we operate 140 stores in more than 100 cities with 18,000 associates, and we are ready to take the next step."

The investment plan calls for opening an average of five new stores per year to reach 165 locations within five years, bringing the associate count from 18,000 to 20,000. Beyond real estate, the capital will fund new specialized distribution hubs across the country, stronger e-commerce capabilities, and expanded sustainability efforts. Nearly 50% of the chain's Mexican stores already run on renewable energy, and the company carries a growing catalog of more than 2,000 eco-friendly products.

The local sourcing angle is among the more consequential pieces of the plan. Rodríguez said 85% of Home Depot's products in Mexico already come from Mexican suppliers, and the company wants to go further: "We aim to further develop and integrate local suppliers, not just for our Mexico operations but also to provide access to our stores in the United States and Canada." That would effectively turn investment in Mexico's supplier base into a cross-border procurement strategy, giving local manufacturers a path into Home Depot's broader North American network.

The current announcement builds on a separate commitment disclosed in March 2024, when Home Depot announced an investment of MX$2.86 billion to fuel its growth throughout that year. That round was positioned to push the company's cumulative investment in Mexico beyond MX$50 billion since its establishment in the country, and it funded improvements to the in-store experience including the rollout of self-checkout counters. The relationship between the MX$2.86 billion figure and the newly announced 4,790 million pesos has not been specified by the company; whether the amounts overlap, are additive, or cover distinct line items remains unclear.

What is clear is the scale of Home Depot's bet on Mexico relative to its history there. Starting from four stores and 500 employees, the chain has expanded to 140 locations across more than 100 cities with 18,000 workers. The five-year roadmap, anchored by the $250 million commitment, is an attempt to extend that trajectory while embedding the Mexico operation more tightly into the company's continental supply chain.