H&M built Monki for 18 years — then folded it into Weekday and shut its stores

Monki was founded in Sweden in 2006, a fast-fashion brand targeting young women with colourful, playful designs and a strong social message about body positivity and inclusivity. H&M Group acquired Monki in 2008 as part of its purchase of FaBric Scandinavien, which also owned Weekday and Cheap Monday. At peak, Monki grew to 56 standalone stores across 15 markets with web shops in 29 countries.

Monki struggled within H&M's crowded portfolio. In April 2023, H&M closed Monki's Gothenburg headquarters, cutting jobs as it began folding operations into Weekday. In early 2024, Monki removed its plus-size range, citing low demand and cost-cutting. On November 21, 2024, H&M Group officially announced that Monki would be integrated into the Weekday platform in 2025. A limited number of Monki stores were converted into multi-brand Weekday destinations; the rest were closed. Monki's e-commerce operations were redirected to Weekday's online store.

The closure followed years of disappointing financial results at H&M Group. CEO Helena Helmersson had resigned in early 2024 after the company's margins and share price declined. Inventory management problems — unsold stock that EU regulation no longer allowed H&M to simply discard — added financial pressure. The Monki consolidation was part of a broader H&M restructuring that included the exit from 200 stores globally and the merger of Cheap Monday into Weekday in September 2024.