Swedish H&M Group is merging its youth brands Monki and Weekday, to form one clear shopping destination.
Three in one
Both brands had different scopes, with Monki focusing on girls and Weekday on streetwear, but now they will form one major destination for the youth. A third brand will join them in that goal, as jeans label Cheap Monday (which the fashion giant terminated earlier) resurfaces with a smaller product line.
The Swedish group hopes to address changing customer behaviour and to reinforce its position in the fierce battle with arch rival Inditex. The Spanish group has taken and strengthened its pole position over the last few years, so a change in tactics was needed.
In a first stage, the brands will continue to co-exist, but H&M is already looking at “combined customer experiences” such as joined stores. The group also raises the possibility to add other brands and partners to the newly created construction. Administrative and operational costs will be reduced as Monki’s headquarters will be closed.