H&M ACQUIRES REMAINING SHARES IN FABRIC SCANDINAVIEN AB

H&M ACQUIRES REMAINING SHARES IN FABRIC SCANDINAVIEN AB

H&M has acquired the remaining 40 percent of the shares in FaBric
Scandinavien AB, which runs the store chains Weekday and Monki as well
as the Cheap Monday brand.
FaBric Scandinavien AB will be incorporated fully into the H&M Group,
but the brands will continue to be operated as separate concepts.

In spring 2008 H&M acquired 60 percent of the shares of the privately
owned Swedish fashion company FaBric Scandinavien AB through a cash
purchase. The purchase agreement also included an option to acquire the
remaining shares in FaBric Scandinavien AB. H&M has now exercised this
option and acquired the remaining shares.

The company has expanded substantially since the acquisition in 2008,
with the number of stores having increased from 20 to 66. There are now
Weekday and Monki stores in seven countries. H&M has great faith in the
concepts, which are judged to have great potential for the future. The
expansion and international roll-out of Weekday, Monki and Cheap Monday
will therefore continue.
The purchase price for the remaining 40 percent of the shares was SEK 8
million in cash, making the total price paid by H&M for FaBric
Scandinavien AB SEK 552 million.
The company was sold by its founders Adam Friberg, Lars Karlsson, Örjan
Andersson and Linda Friberg. 

   

Contacts:

Nils Vinge    
Head of IR   
Telephone: +46 8 796 52 50
E-mail: nils.vinge@hm.com (nils.vinge@hm.com)

Kristina Stenvinkel
Head of Communications
Telephone: +46 8 796 39 08
E-mail: stenvinkel@hm.com