MONKI, a subsidiary of H&M, intends to close its stores in Hong Kong within two weeks and set up branches in all districts of Hong Kong and Kowloon in its heyday

In recent years, many European fashion brands that have "planted the flag" in Hong Kong have changed their business models. Among them, after the American brand "Forever 21", which rented the "Shop King" in Causeway Bay, went bankrupt and was released from Hong Kong, MONKI, a subsidiary of the Swedish fashion brand H&M, was released in two weeks. After closing the last branch in Tsuen Wan, the brand's Hong Kong market will be closed across the board.

Some branch staff said that in the future, if customers want to buy products of this brand, they can only order on the "Tmall" platform or special page in the Mainland, but the postage will be charged. "Hong Kong 01" has inquired with its parent company H&M.

MONKI, which belongs to the Swedish fashion brand H&M, will close the Hong Kong market after it closes its Tsuen Wan branch in two weeks.

(Photo by Liang Huanmin)

H&M Group has 4 brands, "H&M", "COS", "MONKI", and "& Other Stories". Among them, MONKI focuses on the young market and has 4 branches in Hong Kong during the peak period. Wai Lao Road, Langham Place in Mong Kok and Tsuen Wan Plaza in Tsuen Wan, two of them have been closed since 2019. They are located on the ground floor to the first floor of Xinji Commercial Centre in Tsim Sha Tsui. In 2013, the monthly rent was 665,000 for renting over 5,000 square feet on the ground and first floor. Area of ​​bunks, end of 2019.

Some employees can transfer to other H&M brands to work

After the Mong Kok branch ended in October this year, the Tsuen Wan branch also had a 30% discount and a 50% quick sales today. A staff member said that this last branch will be closed in two weeks. Colleagues can choose to go to the other two H&M group. Brand branch work, "The company didn’t talk about anything before, but the Mong Kok branch closed down if it made money. Everyone knew that it would cost more to run (operate) a store, just don’t know if it’s coming soon (Tsuen Wan) shop)."

In fact, European and American fast-food fashion brands have successively announced layoffs, reduced branch sizes and abandoning rents in recent years. H&M has closed 4 stores in Hong Kong in the past year or so. Jupu finally gave up the lease renewal in September 2020. From this year, the American sneaker chain Foot Locker and the Japanese supermarket AEON will be stationed.

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