H&M bought half of the denim company, Cheap Monday (ca $92 million), Fabric Scandinavien from the founders of the company, Adam Friberg, Lars Karlsson, Orjan Andersson and Linda Friberg. It also has the possibility to acquire the remaining stake within three to five years.
This was signed on Thursday, March 6.
Me myself adore the people who works for/at Cheap Monday.
Apart from designing Cheap Monday jeans, Fabric Scandinavia also runs the store chains Weekday and Monki in Sweden.
Weekday is an urban unisex concept with six stores, while Monki's 12 stores are aimed at young women.
With their punk-rock style and affordable price, Cheap Monday jeans have become a hot commodity in recent years and are now sold in more than 1,000 stores globally.
H&M said the company will be run as a stand alone subsidiary within the H&M Group.
Congratulations Mr. Orjan Andersson and to all belonging to your company.
You are well desereved.
xx
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