A new store opened in Stockholm today, Afound, a multi-brand discount store owned by H&M which is located at Drottninggatan 53, the second of which will open in Malmö at Södergatan 28. At the same time, sales via their online Swedish marketplace have launched in parallel with the opening of the stores. The number of stores will initially grow to five.
“The idea was to create an innovative marketplace in the off-price sector with a relevant, curated and inspirational offering for our customers. We have focused strongly on the experience in both the physical and the digital store. Some people might call us an outlet, but our vision is for the customer to experience a style and deal-hunting paradise.”
– Mattias Ekberg, Creative Director, Afound
H&M describe the new marketplace as a “style- and deal-hunting paradise” selling discounted fashion and lifestyle products, with both external and the H&M group’s own brands such as COS, Weekday, Cheap Monday, and & Other Stories. The aim is to offer a wide range of well-known, popular brands for both women and men presented as a carefully selected, season-less range from Swedish and international brands in a variety of price segments both online and in physical stores. Afound will also launch unique, limited product releases from a range of brands, all at attractive prices.
“Consumer demand is changing as shoppers are constantly on the lookout for great deals. The Afound proposition is all about ‘giving great fashion new life’ and providing a premium experience for discounted brands. Our vision is to be a deal hunting paradise, giving our customers greater access to discounts alongside amazing new brands.”
– Fredrik Svartling, Managing Director, Afound
Afound have two routes to market for fashion retailers – a more traditional wholesale model where H&M select and buy your products offering them both in Afound stores and online, and a marketplace model where you sell and ship your items sold through the Afound marketplace. Merchants interested in the marketplace model will be pleased to know it’s powered by the Mirakl platform, so many of the regular multichannel management providers should quickly be able to integrate their services with Afound.
If you’re interested in supplying Afound, through either the wholesale or marketplace model, you can get in touch with the marketplace through their website.