H&M Group to close Monki stores

Swedish fashion group H&M Group is preparing to close its own Monki brand stores, and thus enters the next step in its Weekday integration plans.

The womenswear brand Monki is to be integrated into the Weekday brand, which also belongs to the fashion group, next year, the H&M Group announced on Wednesday. This marks the next phase in H&M's efforts to establish the denim specialist as the "ultimate youth destination for style and creative expression".

For Monki, this step means integration into the Weekday online shop as well as the physical stores. A "limited number" of existing Monki stores will also be converted into Weekday multi-brand stores, according to the statement. The rest of the locations will be closed.

According to the H&M Group's own information (as of August 31, 2024), Monki is currently active with 56 stores in 15 markets. In e-commerce, the brand operates web shops for 29 countries. Weekday, meanwhile, has 47 stores in 14 markets. There are also 29 regional online web shops.

An initial round of job cuts at Monki occurred in April 2023, when H&M closed its headquarters in Gothenburg as part of the merger.