Expanding or retracting? H&M closes Cheap Monday after rethinking /Nyden

H&M is undoubtedly one of the most successful fashion companies of our time. But as consumers question the social and environmental impacts of the fast fashion model and online players such as Asos and Boohoo offer fierce competition, the last decade has seen the Swedish apparel giant looking to rely less on its namesake brand. In the last two years alone, the H&M Group has launched Arket, a fast fashion disrupter offering “durable products designed to be used and loved for a long time”; Afound, a marketplace selling discounted fashion items from internal and external labels; and /Nyden, an affordable luxury brand aimed at millennials. All that while debuting the first standalone H&M Home stores and expanding the homeware product offering.