// H&M Group is set to merge its Monki and Weekday brands while reviving Cheap Monday, to form an “umbrella of a new youth destination”
// As a result, 150 colleagues working at Monki’s head office in Gothenburg will be affected as the location closes
H&M Group is to merge its Weekday 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 closed back in 2019 due to declining sales, which will offer a small assortment of jeans, and altogether the three brands will form the “umbrella of a new youth destination.”
The fashion titan said the merger would “leverage customer synergies”, and also reduce administration and operational costs, freeing up resources to further focus on developing the brand experiences and a strengthened overall offer.
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H&M Group head of portfolio brands Anna Attemark said: “We see great potential with this new youth destination, with the brands Weekday, Monki and Cheap Monday. Over time we will also explore how to further develop it by including more partners.”
“While looking forward to having the new organisation up and running, we remain humble for the changes this entails for some of our employees.”
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”, about 150 staff members are employed there.
All those impacted by the move will be supported in applying for roles within the new organisation, or elsewhere within H&M Group.
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