H&M buys Fabric Scandinavia

[ahk1979]

I think this was a few days ago, but just found out about today.

H&M acquires the company behind cheap monday, weekday and monki

Ingezonden persbericht

H&M ACQUIRES THE COMPANY BEHIND CHEAP MONDAY, WEEKDAY AND MONKI

H&M has signed an agreement to acquire the privately owned Swedish fashion company Fabric Scandinavien AB that is running the store chains Weekday and Monki. The Group also designs and sells fashion through a number of own brands, such as Cheap Monday. The turnover for the financial year 2007/08 is expected to reach approximately SEK 400 million. The company will be run as a stand alone subsidiary within the H&M Group.

[joey_formal]

Cheap Monday working hard to make that money and alienate it's original customers, granted there is a huge cross over market with CM and H&M. Its a matter of buyers not wanting an "H&M product" stocked at their stores, oh well at least they got paid.

[lithiumsys]

http://www.businessweek.com/ap/financialnews/D8V7SLT80.htm

Eh, I think its for the better. Better H&M than something like A/X, right?

[josephr]

The turnover for the financial year 2007/08 is expected to reach approximately SEK 400 million.

that is like $65 million USD....way more than I would have thought esp at their low pricepoint.

[btbam]

i read about this the other day, should be good for both parties..hopefully

[B.oskar]

thanks for the info. wish a H&M would open in hawaii..

[ktothe]

Two shitty companies combine to create an empire of shit.

[Pandemonium]

i digress, i think that this general malaise of fecal matter should be of interest.