H&M Group opens discount fashion marketplace and ‘retail concept’

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H&M Group is behind the launch of a new marketplace and store in Sweden selling discount fashion goods.

Called Afound, H&M says it will be a “style- and deal-hunting paradise” selling discounted fashion and lifestyle products, with both external and the H&M group’s own brands, offering a wide range of well-known, popular brands for both women and men.

Afound will present a carefully selected, season-less range from Swedish and international brands in a variety of price segments both online and in physical stores.

The new marketplace will also launch unique, limited product releases from a range of brands, all at attractive prices.

“We see big potential for Afound and are looking forward to introducing the marketplace to our audience in Sweden in 2018. Afound cares about both the value of the products and the mix. And by offering personal style inspiration, quality labels, and the sense that you’re getting a really good deal, Afound will offer a new form of off-price experience.”

– Fredrik Svartling, Managing Director of Afound

Afound’s marketplace will be launched both online and with physical stores, starting in Sweden, in 2018. The first store will open on Drottninggatan in Stockholm in parallel with the launch of the digital marketplace in Sweden.

Afound will also operate online, powered by Mirakl, and it is being billed as a truly omni-channel experience – using the store to help promote online and vice versa. The online store (www.afound.com) serves the Swedish market to start with, but will eventually broaden its reach.

The marketplace strategy will ensure their customers have access to an endless aisle of bargains, and gives Afound a R&D channel to figure out what other brands and products the customers might want in-store.

“Afound is destined to be a powerhouse in the retail world and a true pioneer. The company is at the forefront of digital transformation and Mirakl is proud to support them on their mission of serving more customers with more great products at a low cost. Afound’s use of the Mirakl platform will enable them to rapidly add new brands, scale assortment, and address new markets.”

– Philippe Corrot, CEO of Mirakl ,/blockquote>

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