Cheap Monday part of a slew of Swedish brands acquired by H&M
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?
Similar posts:
Breaking: John Galliano out at Christian Dior
Christian Dior have announced that they have fired their iconic creative director John Galliano aft... read more.
Grace Coddington’s September Issue home up for sale again
Do you have an extra $1.8 million dollars lying around and looking to invest in some fashion histor... read more.
Oriental Express: Why is Prada and the luxury industry looking to the East?
On June 24th 2011, Italian fashion house Prada will make its debut on the Hong Kong Stock Exchange ... read more.
I’m so excited to see the results of this merger! Not only for availability of the brand, but for the styles that will be released.