×
221
Fashion Jobs
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager
Permanent · Pune
INDUSIND BANK LIMITED
Area Sales Manager - Home Loan @ Indusind Bank
Permanent · Kolkata
NAVIN FLUORINE INTERNATIONAL LIMITED
Opening For dy. Manager - hf Production at Nfil, Surat
Permanent · Surat
NATIONAL PLASTIC INDUSTRIES LTD
Opening For Area Sales Manager
Permanent · Mumbai
DAMYAA (P.J) FOODS PRIVATE LIMITED
Area Sales Manager - Jabalpur & Chhattisgarh
Permanent · Bhopal
M/S. D2C INSURANCE BROKING PRIVATE LIMITED
Area Sales Manager
Permanent · Hyderabad
MCUBE CONSULTANTS
Area Sales Manager/ Sales Officer
Permanent · Indore
XOTIK FRUJUS PVT. LTD.
Area Sales Manager (gt)-Mumbai
Permanent · Mumbai
EXPONENT JOBS
Production Manager (Non Veg - Sausage), Location- Angola (Africa)
Permanent · Angola
SQUARE YARDS CONSULTING PRIVATE LIMITED
Hiring - Area Sales Manager/Business Development Manager
Permanent · Pune
HARI DARSHAN SEVASHRAM (P) LTD
Area Sales Manager - Maharashtra
Permanent · Pune
SOSYO HAJOORI BEVERAGES PRIVATE LIMITED
Area Sales Executive/Area Sales Manager
Permanent · Surat
MEDLEY PHARMACEUTICALS LTD
District Sales Manager - Calicut
Permanent · Kozhikode
ROHIT EXTRACTIONS PRIVATE LIMITED
Area Sales Manager / Technical Sales Manager For (Aqua Feed) Gujarat
Permanent · Ahmedabad
FIBERNET SOLUTIONS OPC PVT LTD
Area Sales Manager
Permanent · Bhopal
DR LAL PATHLABS
Area Sales Manager- Cochin
Permanent · Kochi
SOSYO HAJOORI BEVERAGES PRIVATE LIMITED
Area Sales Manager
Permanent · Mumbai
ITZEL BATH INDIA PVT LTD
Production Manager
Permanent · Bahadurgarh
NCL INDUSTRIES LIMITED (NAGARJUNA CEMENT)
Area Sales Manager - Vellore (Cement Division)
Permanent · Vellore
ION EXCHANGE (I) LTD
Opening Area Sales Manager in Ion Exchange (i) Ltd- Vizag Location
Permanent · Visakhapatnam
SQUARE YARDS CONSULTING PRIVATE LIMITED
Business Development Executive /Manager /Area Sales Manager
Permanent · Pune
DR LAL PATHLABS
Area Sales Manager- Bangalore
Permanent · Bengaluru
Published
Nov 27, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

H&M says to close down Cheap Monday brand by year-end

Published
Nov 27, 2018

Cheap Monday may have suffered a long period of uninspiring results but the news on Tuesday that parent company H&M is to axe the brand by the end of the year was something of a shock.


Cheap Monday, fall/winter 2017-18 - Cheap Monday



It said the decision came after it had seen “a negative trend in Cheap Monday’s sales and profits for a long time.” It added that the brand’s store in London, as well as its online store, will close on December 31.

The parent company, which has been struggling to return to meaningful growth across its wider operations, said the fashion industry “is in a period of extensive change as a result of ongoing digitalisation.” At the same time, it said the group’s “transformation work is continuing at a fast pace, with the company prioritising and focusing on its core business. Cheap Monday has a traditional wholesale business model, which is a model that has faced major challenges due to the shift in the industry.”

So what happens now? As mentioned, the store and webstore will only continue to operate for another five weeks, but the roughly 80 employees at the firm’s operations in Sweden (in Tranås and Stockholm) could stay around for longer. H&M said it’s in talks “for all employment contracts to be terminated during 2019” and this should be complete by next June.

Anna Attemark, Head of New Business at the H&M group, said: “We need to constantly develop our business and what we choose to invest in. We see very good opportunities and great potential for all of the other brands within New Business, which all are developing positively both digitally as well as through physical stores.”

And the firm’s insistence that its other businesses have potential is important as we’ve become used to H&M opening brands, not closing them in recent years so it seems further closures aren’t planned. 

Analysts will probably applaud the move and the firm’s shares edged up slightly on Tuesday as the markets signalled their approval of the decision to focus on more profitable labels.

Copyright © 2021 FashionNetwork.com All rights reserved.