H&M prepares online discount platform | RetailDetail

H&M prepares online discount platform

H&M prepares online discount platform

Swedish H&M group is apparently developing an online platform, where it will sell a large number of clothing brands at discounted prices. To that end, it has already signed deals with sixty clothing brands.


50 million euro

According to Swedish news site Breakit, the new project is codenamed P12 and should employ about one hundred people. The launch, backed by a 50 million euro investment, is planned for mid-April, but it is not entirely clear how the new platform should function.


The H&M Group refrained from confirming the news, but it is clear it will need to find ways to attract the consumer online. Over the past quarter, the company had to deal with a turnover slump, because its stores do not attract the same amount of customers as they used to. For the time being, H&M has not yet managed to compensate for the turnover drop with increased online sales.


“We are always developing several new projects and have also recently launched Arket. However, we never discuss those projects until they are launched, so therefore I cannot comment on this news”, H&M head of investor relations, Nils Vinge, commented.

Questions or comments? Please feel free to contact the editors

Gerelateerde items

Are Chinese prisoners working for H&M and C&A?


British former journalist Peter Humphrey has accused C&A and H&M of using forced labour. He claims to have seen how Shanghai prisoners were forced to work for Western chains, something the retailers will now investigate.

Chanel acquires stake in online retailer Farfetch


French fashion label Chanel obtained a minority stake in British Farfetch. It wants to use the online retailer’s expertise to create more digital innovations for its own customers.

Monoprix wants to acquire web shop Sarenza


Store chain Monoprix, part of French Groupe Casino, entered negotiations to acquire online shoe seller Sarenza, one of France’s prime online brands.

Zalando expands collaboration with German retailers


Zalando has further expanded its collaboration with physical retailers in Germany. Shoe stores were already able to ship through Zalando and now clothes stores can too.

Amazon hires 2,000 employees in France


American internet warehouse Amazon’s French division is looking for 2,000 employees to keep up with its strong growth. Amazon.Fr is not only the most popular web shop in France, but also in Belgium.

Kiabi opens largest Belgian store in Westland Shopping Center


French clothing chain Kiabi will open its fifth Belgian store in the Westland Shopping Center in Anderlecht. This will become its largest Belgian store to date, spread across 1,800 sqm.

Back to top