H&M: online destocking site Afound to close down

(CercleFinance.com) - H&M announced on Wednesday its intention to close its Afound online destocking site by this autumn, with the Swedish fashion giant citing insufficient demand.


In a press release, the clothing manufacturer justifies its decision by the fact that brands tend to increasingly favor their own distribution network in order to strengthen their ties with their customers.

Created in 2018, the Afound outlet site offered significant discounts on past collections of clothing and home and beauty items from brands belonging to the H&M group, including COS and & Other Stories.

Its activities will be phased out over the coming months, explains H&M, which plans to offer employees the chance to continue their careers within the group.

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