Afound, an omnichannel discount fashion retailer own by H&M Group, will feature both external brands and H&M’s own labels, including COS, & Other Stories, Weekday and Cheap Monday. The retailer has selected Mirakl to launch its fashion marketplace.
In addition to an online store, Afound has opened five physical stores in Sweden. The retailer will use data from both online and offline sales to figure out what other products customers may want stocked in-store.
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“The Afound proposition is all about ‘giving great fashion new life’ and providing a premium experience for discounted brands,” said Fredrik Svartling, Managing Director of Afound in a statement. “Our vision is to be a deal hunting paradise, giving our customers greater access to discounts alongside amazing new brands.”
Additionally, H&M is updating its size structure for women’s clothing, according to Today. The shift, which will affect locations in the U.S., Canada, Mexico, the UK and Colombia, started in late 2017. The brand will add an extra size category as well.
The discount marketplace and sizing initiatives are being launched as the main H&M brand sees mixed results, with plans to open 390 stores but also to close 170 in 2018. The closures mark the most stores shuttered in a single year since 1998.
The retailer is offsetting the closures with a greater emphasis on e-Commerce: it started selling the selling the H&M and H&M Home brands on the Alibaba e-Commerce platform Tmall in March.
