Cheap Monday
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Cheap Monday is a Swedish clothing label. It was founded in 2004 by Örjan Andersson and Adam Friberg, originally as a second-hand clothing store, in a suburb of Stockholm. The clothes started selling on March 10, 2004, and from the beginning in only one store called Weekday. The name of the brand derived from the fact that the original store was only open on Sunday. The brand was known for their idiosyncratic designs,[citation needed] and expanded from their original focus on jeans to include sneakers, flannel, and shirts.
Cheap Monday clothes were distributed in a variety of stores worldwide, including Urban Outfitters and Barneys New York. They were also available from a range of online stores, including The Iconic, SurfStitch and ASOS. Apart from franchisees, Cheap Monday had four stand-alone stores in London, Paris, Beijing and Shenyang. Several pop-up stores were also established, in Stockholm, Utrecht, Los Angeles and Hong Kong.
Acquisition[edit]
On March 6, 2008 it was announced that retailer H & M Hennes & Mauritz AB (H&M) would acquire the company Fabric Scandinavien AB, maker of Cheap Monday jeans and operator of the Weekday store. H&M bought 60 percent of Fabric Scandinavien for 564 million Swedish kronor (US$92 million at the time) from the founders of the company: Adam Friberg, Lars Karlsson, Örjan Andersson and Linda Friberg. H&M had "the possibility/obligation to acquire the remaining shares in the company within three to five years."[1]
Closure[edit]
As of November 2018, H&M announced that they would be closing their Cheap Monday brand due to poor sales. The closure of the business was completed in June 2019.[2]
References[edit]
- ^ "H&M acquires the company behind Cheap Monday, Weekday and Monki". H&M. March 6, 2008. Retrieved January 2, 2010.[permanent dead link]
- ^ "Our favourite denim brand is shutting down". Independent.co.uk. 29 November 2018.
