PARIS – Hennes & Mauritz said it has acquired the remaining 40 percent of shares in Fabric Scandinavien AB, the company behind hip denim label Cheap Monday and contemporary fashion chains Weekday and Monki, for a cash price of 8 million Swedish kronor, or $1.2 million.
The Swedish fast-fashion giant exercised its option to buy the remaining shares after initially acquiring 60 percent of privately owned Fabric Scandinavien in March 2008. This brought the total price paid for the company to 552 million kronor, or $79.4 million, it said.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)