Afound news and archive

Secret Sales acquires H&M Group’s Afound

Off-price marketplace Secret Sales has snapped up digital fashion outlet Afound from its former parent company H&M Group. The move comes as Secret Sales looks to continue positioning itself as a “dominant force” in European off-price retail, an effort that has already been reflected in similar acquisitions over the course of the past few years....

Fashion

H&M’s outlet concept Afound expands into beauty

The H&M Group’s outlet concept, Afound, which launched in June 2018, now also offers a range of beauty products, giving existing and new customers the chance to “find their favorite products at a great price”. Initially, 1,000 articles have been selected within categories such as makeup, fragrance, hair and skincare. The brand portfolio consists...

Business

H&M expects to post profit in Q3

In the third quarter 2020, for the period June 1, 2020 to August 31, 2020, the H&M group’s net sales decreased by 16 percent in local currencies compared with the corresponding period last year. Converted to SEK, the company said in a statement, net sales decreased by 19 percent to 50,870 million Swedish krona (5,807 million dollars). The...

BusinessFeatured

H&M reports Q2 loss, H1 turnover drops by 23 percent

Net sales at Hennes & Mauritz AB (H&M) decreased by 50 percent to 28,664 million Swedish krona (3,070.5 million dollars) in the second quarter. Also in local currencies, net sales decreased by 50 percent. Net sales in the six-month period decreased by 23 percent to 83,612 million Swedish krona (8,956.8 million dollars), while in local currencies...

Business

H&M says full year sales 11 percent ahead of 2018

Hennes and Mauritz AB (H&M) has announced through statement that the group continued to grow globally during 2019 in a rapidly changing fashion industry. The H&M group’s net sales increased by 11 percent to 232,764 million Swedish krona (24,836 million dollars) in the financial year of 2019, while in local currencies, net sales increased by 6...

Fashion Featured

Scandinavian brands: minimalism at its best

Inspired by Copenhagen Fashion Week which took place last month, FashionUnited is looking at the Nordic codes that inspire the slow life trends. In the region, sustainable products and organic materials are synonymous with low consumption. From furniture to decorations, Scandinavian design is distinguished by its minimalism and functionality....

Retail

H&M’s Afound to sell remaining pieces of French concept store Colette

Many fashionistas lamented the closure of Parisian concept store Colette, which shut its doors for good last year. However, there’s still a chance to get a hold of some of Colette’s items -- if you’re willing to go to Sweden, that is. Afound, the multi-brand discount store launched by H&M in its motherland earlier this year, announced a “final...

Retail

H&M’s new discount concept Afound opens online shop

Swedish fashion company H&M opened the first online shop for its new off-price concept Afound a few days ago, on Thursday. However, like the first brick and mortar stores that opened at the same time, the online shop is initially available in Sweden only. Potential customers should therefore be comfortable with navigating the site in Swedish and...

Retail

H&M to open Afound stores in Sweden

H&M is expanding their presence in Sweden. The company will be opening its first Afound stores in the country this June. Afound sells discount clothes from a variety of brands. After taking a loss, which is virtually unheard of for the company, they are working on different retail formats to continue engaging customers. H&M had long been one of...

RetailFeatured

H&M moves into the off-price marketplace with Afound

London - The rumors have proven to be true - Swedish fashion giant Hennes & Maurtiz is set to launch Afound, an off-price marketplace in 2018. The move sees the H&M group going head to head with leading online marketplaces (as well as offline), as the retail giant aims to create a “style-and deal-hunting paradise” which offers discounted fashion...