H&M will shut down struggling Cheap Monday brand
H&M is shutting down its struggling independent brand Cheap Monday, which is known for its low-priced skinny jeans.
H&M bought Cheap Monday’s parent company, Fabric Scandinavien AB, in 2008.
Cheap Monday products are sold mainly through around 3,000 resellers worldwide.
They are also sold through its own online store, a flagship store in London, and on Chinese Alibaba’s online marketplace Tmall.
H&M said it aimed to complete the closure of Cheap Monday, which affects around 80 employees, by the end of June 2019.
Business Insider