HandM Targets Gen Z With A New Omnichannel Brand
Tuesday, June 26th, 2018
Never one to shy away from a new endeavor, fast-fashion giant H&M just released its latest brainchild: Afound, an omnichannel discount fashion retailer. Afound will feature external brands (alongside H&M’s own labels) at a reduced price, offering shoppers a premium brand experience with discounted prices.
“Our vision is to be a deal-hunting paradise, giving our shoppers greater access to discounts alongside amazing new brands,” says Afound’s Managing Director, Fredrik Svartling. “We want to make [shopping] easy for our customers by being where they are, whether it’s digitally or in selected physical stores, and by offering a range tailored to local demand. We will be offering a large number of attractive brands at really good prices.”
Afound’s website is a clear example of the effort the retailer put into creating an experience around the Afound brand. With an emphasis on UX, the site creates the feeling that shoppers are going through a digital treasure trove—offering everything from H&M pieces to vintage Chanel at a more accessible price point. Afound could be the answer to Generation Z’s desire for a more curated closet. According to a recent report from Bank of America Merrill Lynch, Generation Z—those born between 2000 and 2010—are nowhere near as interested in fast fashion as previous generations. The bank’s analysis shows that Gen Z wants fewer but more exclusive garments.
Afound will open brick-and-mortar locations this year in Sweden, with more openings slated for Europe throughout 2019.
Image Source: Afound.com
Contributed By: Anna Allen, Integer Hamburg