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H&M’s Circular Overstock Outlet Renews EU Expansion

H&M Group-owned digital fashion marketplace Afound is expanding into new territory.

The platform, which carries overstock shoes, clothes and lifestyle products from hundreds of men’s and women’s labels, will soon be breaking ground in Austria and Germany.

Launched in H&M’s home base of Sweden in 2018, the online platform and store chain opened to customers in the Netherlands in October. As part of a sweeping European expansion plan, the outlet concept store promises to continue its spread into new, yet unannounced markets.

Afound carries a selection of hand-picked products from local and international brands, spanning a range of price segments. “The idea behind Afound is to handle overstock within the retail industry by offering great deals on fashion that has already been produced, meaning existing and previous collections, which haven’t found its consumer at full price,” the company said in a statement Monday.

The marketplace model allows external partners to sell directly to consumers through the platform, controlling both pricing and delivery, while Afound also sources and sells its own array of merchandise.

“We have great partners with us on this journey that share the same vision and goals as we do,” Joanna Hummel, managing director at Afound, said. “Together, we can be part of tightening the loop and contribute in the shift to a more circular fashion industry.”

“The first two years have been all about testing and learning, a natural part of the journey while starting a new business with an ambition to revolutionize the industry,” she added, noting that the company’s experiences thus far have informed its current expansion plans.

“We are looking forward to enable more customers to discover Afound, and hence get the chance to make really great deals, in combination with the feeling of doing good,” she said.

Shoppers in Austria and Germany will be able to shop the Afound online platform beginning on May 7, Hummel said.

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