Translated by
Nicola Mira
Printed
December 3, 2024
Simply over a yr after the H&M group introduced that Monki, its label focusing on a youthful viewers, would be part of Weekday to create a single youth-focused model hub, the group has issued a quick communiqué in regards to the destiny of the present Monki shops. All Monki shops will shut down in 2025, and solely “a limited number” of them will change over to Weekday. H&M didn’t give particulars in regards to the variety of workers concerned, nor which addresses will proceed to function below Weekday.
A Monki retailer in Stockholm – Monki
Monki at the moment operates 56 shops worldwide. In 2022, H&M determined to jettison some 20 Monki shops, and in 2023 it closed the label’s Swedish headquarters. The group had acquired Monki in 2008, concurrently Weekday and Low-cost Monday. All three belonged on the time to the thriving Material Scandinavien AB group.
H&M has didn’t construct a profitable cluster of youth-focused manufacturers whereas retaining every of them comparatively impartial. Low-cost Monday staged a minor comeback final yr below the Weekday umbrella, after turning into dormant in 2018.
H&M nonetheless intends to commercialise Monki merchandise on the label’s e-shop and in Weekday shops.
Regardless of streamlining its portfolio, the group nonetheless retains a major variety of manufacturers, together with its flagship label H&M, & Different Tales, COS and Arket, though it has lately bought off the Afound digital vogue outlet to Secret Gross sales, the British premium e-commerce market for off-price vogue.
