The Swedish fast fashion retail group has dubbed the project "Afound," and describes it as a "style- and deal-hunting paradise" that will take the form of physical stores and an online marketplace. They have also launched a sustainable activewear collection which you can read about here.
Catering for both men and women, the platform will sell fashion and lifestyle products at discounted prices, with the wares coming from the group's own brands (which include H&M, COS, Weekday, Cheap Monday, Monki and & Other Stories) in addition to external labels. It will also launch unique, limited product releases from a range of brands, and is set to debut in Sweden this year.
"Afound cares about both the value of the products and the mix," said Fredrik Svartling, Managing Director of Afound, in a statement. "And by offering personal style inspiration, quality labels, and the sense that you're getting a really good deal, Afound will offer a new form of off-price experience."
The news comes amidst widespread H&M store closures set for 2018, as the fashion brand focuses increasingly on online traffic.