H&M Group’s digital marketplace Afound is expanding further into Europe.
On May 7, the platform which is already active in Sweden since June 2018 and the Netherlands since October 2019 announced the opening of digital marketplaces in Austria and Germany as the next step in its European expansion plan.
Afound which is the ninth sub-brand of the already wide-ranging H&M group offers products that are sold by external partners, in addition to products that are sourced and sold by Afound. It handles overstock within the retail industry from current and past collections, which haven’t found its consumer at full price.
In addition to discounted merchandise from H&M Group’s brands such as &Other Stories, Cos, Weekday, Arket and H&M, the assortment also includes outlet merchandise from Scandinavian labels such as Ganni, Hope and Maria Black, brands such as Diesel, Fred Perry, Timberland, Michael Kors and New Balance, and designer labels such as Off-White, Vetements, Stella McCartney, Proenza Schouler, and Celine.
The marketplace model makes it possible for customers to shop directly from a wide range of brands and allows partners to control both pricing and delivery.
‘We have great partners with us on this journey that share the same vision and goals as we do. Together, we can be part of tightening the loop and contribute in the shift to a more circular fashion industry. The first two years have been all about testing and learning, a natural part of the journey while starting a new business with an ambition to revolutionize the industry. Now we have some answers and key learnings to really amplify our expansion plans. We are looking forward to enable more customers to discover Afound, and hence get the chance to make really great deals, in combination with the feeling of doing good,’ said Joanna Hummel, Managing Director at Afound.
Afound is available online at www.afound.com.