H&M said it had signed a deal to buy privately owned Swedish fashion company Fabric Scandinavien AB, maker of Cheap Monday jeans. They purchased a 60% stake in the company for a mere $92 mil. from the founders of the company, Adam Friberg, Lars Karlsson, Orjan Andersson and Linda Friberg. H&M also has the possibility to acquire the remaining stake within three to five years.
Fabric Scandinavien also run store chains Weekday and Monki in Sweden. “Weekday is an urban unisex concept with a total of six stores, while Monki’s 12 stores are aimed at young women. With their punk-rock style, trendy tight fit and affordable price, Cheap Monday jeans have become a hot commodity in recent years and are now sold in more than 1,000 stores globally.”
I just wonder how hot of a commodity Cheap Monday will continue to be with their group of hardcore followers.
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