H&M is launching a chain of outlet stores called Afound, which will carry discounted merchandise from across all the brands sold at its main stores. The first Afound units are to open next week in Stockholm and Malmö, in Sweden, where H&M is based.
Besides its namesake chain, H&M also operates Arket, COS and & Other Stories
H&M intends to open additional Afound stores later this year, in Gothenburg, Kristianstad and Skärholmen, as well as an online store, at www.afound.com. There is no word yet about expansion to other countries.
“Some people might call us an outlet, but our vision is for the customer to experience a style and deal-hunting paradise,” said Mattias Ekberg, Afound’s creative director, in a statement released on the website. “The idea was to create an innovative marketplace in the off-price sector, with a relevant, curated and inspirational offering for our customers. We have focused strongly on the experience in both the physical and the digital store.”
“Some people might call us an outlet, but our vision is for the customer to experience a style and deal-hunting paradise”
“Our team is happy and excited about finally having the chance to introduce our concept, which will, we believe, give our customers a completely new shopping experience in an exciting segment,” said Fredrik Svartling, Afound’s managing director, in a prepared statement. “We want to make it easy for our customers by being where they are, whether it’s digitally or in selected physical stores, and by offering a range tailored to local demand. We will be offering a large number of attractive brands at really good prices.”
H&M operates about 4,700 stores across Europe, North America, South America, the Middle East, Africa, Asia and Australia.
By Edmund Mander
Director, Editor-In-Chief/SCT
