To streamline its brand portfolio, H&M Group will integrate the Monki label into its Weekday brand and rebrand all of its Monki stores.
The full merger of Monki into the Weekday platform is slated for next year, covering both online and off-line retail.
As part of the integration, some Monki stores will be converted into multi-brand Weekday destinations, while others will be closed.
Earlier this year, the company quietly removed Monki’s larger sizes “due to low demand” and to cut costs, a move not well received by consumers.
Head of communication Nadine Schmidt told the Belgian newspaper De Standaard, the initiative it was part of “testing, learning, adapting, and refining the range”.
H&M has also struggled with stock management, which has contributed to “disappointing” financial results that led to the exit of former CEO Helena Helmersson.
Adding to the pressures, the European Union’s Green Deal stipulates that unsold clothes can no longer be discarded, resulting in the financial burden of excess inventory.
Retail Detail reports that H&M has long been planning to merge Monki with Weekday, as both brands appeal to young people but apparently can no longer make it on their own.
“The logic is what it is, but the decision is difficult to swallow for consumers,” said the news outlet.
Monki operates 56 stores in 15 markets and runs online shops in 29 countries. Weekday has 47 stores in 14 markets and 29 regional online stores.
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