Affordable denim brand, Cheap Monday, has been acquired by H&M along with a slew of brands owned by Fabric Scandinavien, their parent company.
H&M now own 60% of Fabric Scandinavien, which is a great partnership when you consider that Cheap Monday has a cult following, almost like H&M’s own target market. The Swedish fast fashion giant reportedly paid 564 million Swedish crowns ($91.5 million) for its new acquisition, which also includes brands like Weekday, Monki and Sunday Sun.
“We see potential to develop stores and concepts in other markets,” H&M chief executive Rolf Eriksen said “By working together we can accelerate the growth further. We can also do it in a more efficient manner by drawing on H&M’s experience and knowledge of production, logistics and establishment.”
Could this mean Cheap Monday will be available in H&M now, making them more readily available all over the world?