Don’t Miss Out: H&M is Offering 70% Off in Their Online Outlet Before Closing!
H&M has surprised its customers with an unexpected announcement: the closure of its popular digital store, Afound. Take advantage of discounts of up to 70% available until the end of the year at this outlet, which offers products from H&M and other recognized brands. Discover the details of this decision and what it means for fashion lovers.
Afound: the end of an era for H&M
H&M, the renowned fashion chain, has decided to close its digital outlet store, Afound, by the end of this year. Launched in 2018, Afound offered not only H&M products but also a selection of items from brands such as Nike, Reebok, Converse, and Adidas. This announcement, unexpected for many of its loyal customers, was justified by the company due to a lack of sufficient demand. H&M mentioned that more and more brands prefer to sell through their own channels to strengthen their direct relationships with customers.
In a statement, H&M explained that, despite efforts to maintain the outlet, market trends have led brands to focus on their own channels. This strategy aims not only to optimize profitability but also to enhance the customer experience. Additionally, the company has been making significant adjustments to its operational structure, including the closure of physical stores in different markets to focus on the most profitable areas.
As its closure approaches, Afound remains an attractive option for fashion lovers, with discounts of up to 70% on a wide variety of products. The digital store, although it will soon close its virtual doors, continues to offer high-quality garments at reduced prices, maintaining H&M’s characteristic style. This is an excellent opportunity for buyers looking for affordable fashion.
The decision to close Afound coincides with a broader strategy by H&M to optimize its store network and improve its financial results. Despite experiencing a slight decrease of 2.19% in sales during the first quarter of the year, H&M has managed to double its net profit. This is partly due to a renewed focus on efficiency and cost management, as well as an increase in sales during 2023.
A look at H&M’s history
Founded in 1947 in Sweden, H&M, which stands for Hennes & Mauritz AB, started as a women’s clothing store under the name “Hennes,” which means “for her” in Swedish. With the acquisition of the store Mauritz Widforss in 1968, H&M expanded its offerings to include men’s and eventually children’s clothing, establishing itself as one of the world’s largest fashion retailers.
