Jun 28, 2019
Afound, H&M's new outlet fashion store, expands in Europe
Jun 28, 2019
The Swedish fashion conglomerate is launching the concept outlet store and marketplace in the country later this year, it has announced, with a digital marketplace planned for fall.
"The Netherlands is an exciting market for us to enter, where we believe we have the opportunity to fill a favorable position," said Joanna Hummel, Managing Director, Afound, in a statement. "The Dutch customer is an astute customer. And one we believe will warmly welcome our concept of offering really good deals on products that are already produced -- such as overstock, in our marketplace."
Afound, which was first launched last June in Sweden, aims to encourage a circular fashion economy by providing clothes, shoes and lifestyle products from hundreds of well-known brands for women, men and children at affordable prices. It features fashion pieces from the group's own brands (which include H&M, COS, Weekday, Cheap Monday, Monki and & Other Stories) in addition to external labels.
The brand now counts multiple physical stores in Sweden, as well as an online presence -- and the Netherlands launch is the first step in its long-term European strategy.
Afound is one of several efforts currently being launched by major fashion companies to encourage a more sustainable and circular apparel industry, in a bid to cut down on waste and cater to increasingly conscientious consumers. April saw the H&M brand & Other Stories launch a secondhand clothing initiative in partnership with the online platform Sellpy in Sweden, while the luxury online fashion retailer Farfetch unveiled ‘Farfetch Second Life', a service allowing shoppers to use pre-loved designer bags as a way to earn store credit. This month, the high-end retailer Net-a-Porter launched Net Sustain, an in-site platform for consumers looking for ethically made clothes and accessories.
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