H&M Group is to merge its Weekend and Monki retail brands as it looks to create an “exciting experience” to meet young customers’ needs and preferences.
It has also brought back Cheap Monday which will offer a small assortment of jeans.
Together the three brands will form the umbrella of a new youth destination.
H&M said the incorporation of the Monki brand into the Weekday unit will “leverage customer synergies” while reducing administration and operational costs. It will also enable the company to focus on developing the brand experiences and a strengthened overall offer, although the unique Weekday and Monki brand experiences will remain.
As part of the change, the head office for the new offering will be based in Weekday’s current premises in Stockholm and the organisational changes will come into effect during the coming months.
As a result, the Monki head office in Gothenburg will close which H&M said will regrettably “affect Monki employees”. All those impacted by the move will be supported in applying for roles within the new organisation, or elsewhere within H&M Group.
