H&M launches a new brand – and they are calling it a ’deal-hunting paradise’

The Swedish clothing giant H&M recently revealed that they are going to launch a new brand called Afound in 2018. H&M describes Afound as a “style and deal hunting paradise”, a marketplace with discounted goods in fashion and lifestyle.

The new brand will sell clothing both online and in physical stores, and the first store will open later in 2018 on Drottninggatan in Stockholm, one of the city’s main shopping streets.

In a statement, H&M says that the “marketplace” will sell the group’s own brands and external clothing, and present both “Swedish and international brands in a variety of price segments,”  Afound will also launch “Unique and Limited-Edition collections” from different brands.

“We see great potential for Afound and look forward to introducing the marketplace for our audience in Sweden in 2018. Afound protects the value of products and the mix of them. 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” says Fredrik Svartling, CEO of Afound, in a press release.

The H&M group has eight independent fashion brands – H&M, COS, & Other Stories, Weekday, Cheap Monday, Monki, Arket and Nyden.