PARIS — Hennes & Mauritz is opening its first Afound stores in Sweden in June, a discount store that will sell a variety of brands, as the Swedish retailer experiments with formats for engaging with consumers.
“The idea was to create an innovative marketplace in the off-price sector,” noted Mattias Ekberg, creative director of the brand.
“Some people might call us an outlet, but our vision is for the customer to experience a style and deal-hunting paradise,” Ekberg added.
Slow to adapt to the shift of consumers to digital avenues, H&M has been struggling with a decline in business in recent months. The Swedish retailer is in the process of redirecting efforts from the store-expansion-fueled growth to improving existing stores and pushing further into the digital sphere.
The stores will be located in Stockholm and Malmö, opening on June 14 and 16, respectively, with online services open at the same time.
“We want to make it easy for our customers by being where they are, whether it’s digitally or in selected physical stores, and by offering a range tailored to local demand,” said Fredrik Svartling, the brand’s managing director.