H&M to launch discount web store

H&M

Swedish fashion company H&M is secretly working on a new project, which aims to sell her branded garments online at discounted prices. For now, the project has been named P12 and is scheduled to launch in April.

El website of the Swedish company Breakit gave this news, adding that there are already agreements with around sixty fashion brands so that their products can be sold on the new discount site. It is implied that this site H&M website, be a new platform that has great style and a wide variety of offerings.

H&M has neither confirmed nor denied anything about “P12”, but according to break it The team behind the project are located in an anonymous office north of Stockholm and it consists of around 100 employees.

According to the founder of Breakit Stefan Lundell, The news from H&M launching this discount website will come at a perfect time. The Swedish fashion giant has come under fire after the release of a "disappointing" report in the fourth quarter of 2017, in which H&M sales fell 2 percent during that period.

As we mentioned earlier, H&M does not want to confirm this news (yet). Nils Vinge, the head of investor relations said they would never discuss these types of projects before they are launched. "We always have a lot of new projects in progress and we recently launched Arket." Arket is the last brand that these launched in 18 countries in Europe in March of last year. This brand has available both Arket's own products and products from other brands not including H&M which are a bit higher in price than the main H&M products.


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